Extending your lease
Whether you are a landlord or a tenant, our experienced and dedicated team of specialists can help guide you through the complicated lease extension process from start to finish. We can also help where your landlord is missing.
If a tenant has owned a flat for more than 2 years they are entitled to ask the landlord to extend the term of their lease in exchange for a payment called the “premium”. The premium is calculated according to a statutory formula and takes into account the value of the flat, the number of years left on the existing lease as well as other factors.
We can assist you in recommending suitably qualified valuers to advise on the likely premium for the extended lease and we will serve or respond to the required notices.
In most cases the premium is agreed, but if the premium cannot be agreed, the landlord or the tenant can ask the Property Tribunal to decide what it should be. We can assist in making the application and, if required, have specialist advocates that can represent you at the hearing to secure the best outcome for you.
Once the premium is decided we can then take care of the drafting of the lease, dealing with completion and all formalities at the Land Registry.