Lease Extensions and Lease Enfranchisement
If you’re thinking of a lease exteneion or lease enfranchisement, the team at Hodders Law are here to help.
Please phone us on 0808 168 8677.
Hodders Law’s dedicated and experienced conveyancing solicitors can advise you on all matters relating to lease extensions and lease enfranchisements.
We can explain the application of the law to your situation and advise on the proper steps to take, whether you are a landlord or tenant.
To make your leasehold flat or house appealing in the property market and to lenders, you may wish to have your lease extended. We can guide you through the statutory scheme which provides extensions of 90 years for a flat and 50 years for a house. Otherwise, we can act for you if negotiating directly (informally) with your landlord.
We can also act for you if you are a landlord and you have received a request for a lease extension.
It is especially important for landlords and leasehold owners to seek legal advice if a lease has less than 80 years to run, as the leaseholder may be liable to pay 50% of the ‘marriage value’ when renewing the lease.
Lease Enfranchisement, sometimes referred to as freehold enfranchisement, is when tenants of a block of flats exercise the right to acquire the freehold title from their landlord. If you are a tenant, obtaining the freehold will allow you greater control over the management of the building. There is a statutory scheme which allows this. There are various requirements of both the tenant and the building which must be met to be eligible. These include factors such as the number of interested leaseholders, number of flats and length of the leases.
Why choose us?
Lease extensions and lease enfranchisements are an investment in your future. Our property law team understand the importance of meeting the statutory deadlines and our experience in this area enables us to obtain the best outcome for you.
A large percentage of London property is leasehold. Hodders Law has been serving London residents since 1868 and over that time have gained in-depth understanding of managing leasehold property, from both tenant and landlord perspectives.