Acting for either the leaseholder or the freeholder, we specialise in the valuation and negotiation required for residential lease extensions. We operate throughout London, Buckinghamshire, Berkshire, Surrey, Hampshire, Oxfordshire and Hertfordshire.
The Leasehold Reform, Housing and Urban Development Act 1993 gives the leaseholder – also known as the tenant or lessee – the right to extend their lease by a further 90 years, without payment of any further ground rent. The freeholder (often referred to as the landlord) is legally obligated to comply with this request, depending on three criteria:
- The property must be a flat
- The leaseholder has owned their flat for at least 2 years
- The lease has an original term of at least 21 years
It is especially important for leaseholders to act upon extending their lease when the unexpired lease term is approaching 80 years as this is when the costs involved begin to escalate.
Our service includes
- Initial valuation advice on the premium to be inserted into a section 42 or 45 notice
- Excellent knowledge of the leasehold reform process
- Negotiation with the other party (leaseholder or freeholder)
- Experience in representing clients at the first tier tribunal
We act and advise on
- Residential lease extensions
- Collective enfranchisement
As a multi-disciplined firm, we can offer our clients a 360 degree consultancy and have a wide range of in-house expertise to call upon should further specialist input be required including expert witness surveyors condition reports and building surveys.