What do we do?
We specialise in lease extension and collective freehold acquisition for flat developments. This is a specialist area of valuation work that has seen a huge growth in demand in recent years due to the high level of flat development schemes being delivered across the country.
We act and advise on
- Lease extensions (under the statutory protocol of the Leasehold Reform, Housing and Urban Development Act 1993)
- Advice on the Right to Enfranchise (RTE)
- Advice on the Right to Manage (RTM) procedures
- Purchasing freeholds of houses (under the Leasehold Reform Act 1967)
Why work with us?
Our recognised and recommended regional firm has a multi-disciplined team that takes pride in its work and in delivering the highest standard of service by building strong working partnerships based on trust, efficiency and excellent communication.
- Experienced and accredited
- Personal and comprehensive
- Established and growing
Find out more about our values, experience and accreditations on our about us page
Residential lease extension
The Leasehold Reform Housing and Urban Development Act 1993 gives leaseholders the right to extend the lease of a flat by 90 years. The Leasehold Reform Act 1967 gives most (but not all) leasehold tenants of houses the right to buy the freehold, or extend their leases by 50 years.
When to act
The majority of these developments incorporate flats held on 99 or 125 year leases. As the leases reach a crucial stage – when 80 years or less remain on the lease – then steps need to be taken to ensure there is no loss in property value when it comes to selling.
With 80 years or less remaining, the associated costs of extending or the collective purchase of the building with other tenants increases substantially. You can extend your lease at any time from purchase.
Residential leasehold enfranchisement
The Leasehold Reform, Housing and Urban Development Act 1993 gives leaseholders a legal right to act together to buy the freehold of their building if they meet certain qualifying criteria. This is known as collective enfranchisement.
A summary guide for leases and lease extension from the leasehold advisory service.