Lease Extensions
We make lease extensions simpler for leaseholders and landlords
Extending the lease on a leasehold property can significantly increase its value, as well as ensuring the property remains mortgageable. Depending on the situation, leaseholders may have a statutory right to extend their lease or private negotiations may be required. In either scenario, both leaseholder and landlord must seek specialist legal advice.
Longmores’ leasehold property experts have many years of experience guiding both leaseholders and landlords through different types of lease extensions. We know all of the issues that can arise and the best ways to deal with them, so can help to ensure the transaction goes ahead smoothly on the best terms for your interests.
In most cases, our team are able to facilitate a lease extension that is beneficial to both parties. However, where disputes do arise, we can bring to bear our heavyweight property litigation expertise on your behalf, helping to ensure that you do not lose out.
With the Government having set out plans to significantly reform leasehold property law and the way lease extensions work in the near future, it is essential to work with a team who offers cutting edge legal expertise so you have the most up-to-date guidance.
Market leading expertise in lease extensions
We regularly advise leaseholders and landlords on all types of lease extension scenarios, having a reputation for pragmatism and an encyclopaedic knowledge of leasehold property law.
Our lease extension solicitors can assist with:
Based in Hertford, we work with clients all over the country, including London and the South East.
Independently recognised property law expertise
We are ranked by leading client guide the Legal 500 for our Commercial Property and Commercial Litigation expertise.
Head of Property Litigation John Wagstaffe has been recommended by the Legal 500 for his property litigation expertise and is a member of the Property Litigation Association and the Association of Leasehold Enfranchisement Practitioners.
Speak to our lease extension solicitors
To discuss your requirements with our proactive lease extension experts, please get in touch.
Our lease extension services
Statutory lease extensions
Under current leasehold rules, qualifying leaseholders have the statutory right to add 90 years to the term of their current lease in exchange for paying the landlord a premium. This premium is calculated according to a formula set out in the Leasehold Reform Housing and Urban Development Act 1993.
Most statutory lease extensions are relatively straightforward, but both leaseholder and landlord need expert legal support to make sure the correct process is followed. This avoids any risk of claims failing, extra expense and the potential for legal challenges.
Longmores’ leasehold property lawyers have the seasoned expertise to ensure statutory lease extensions go ahead smoothly, with extensive experience acting for both leaseholders and landlords.
Our lease extension solicitors can assist with:
- Checking leaseholders’ eligibility for statutory lease extensions
- Investigating the relevant titles
- Preparing the Tenant’s Notice
- Preparing the landlord’s Counter-Notice
- Drafting and reviewing the terms of the new lease
Non-statutory lease extensions
Voluntary lease extensions outside of the statutory process are often agreed between landlords and tenants. This might be leaseholders who jointly own their freehold wish to extend their leases, or simply where commercial terms for the extension have been agreed between arms-length landlord and tenants.
Longmores can assist with non-statutory lease extensions, acting for either party to ensure the right documentation is in place and any other necessary amendments to the lease terms are made.
Our lease extension solicitors can assist with:
- Negotiating the terms of a voluntary lease extension
- Drafting and reviewing the terms of the new lease
Lease extension disputes
Sometimes disputes can arise over a lease extension, but this is not necessarily cause for despair. With the right legal intervention at an early stage, most such disputes can be resolved swiftly and cost-effectively, allowing the lease extension to go ahead on favourable terms.
Longmores’ Property Litigation team have strong experience in lease extension disputes, so can give you the best chance of securing the outcome you need. We have excellent negotiation skills, as well as a well-earned reputation for success in Tribunal proceedings, so can support you effectively no matter which way a dispute goes.
Our Property Litigation team can assist with matters including:
- Disputes over lease extension premiums
- Disputes over the terms of a new lease
- Alternative dispute resolution for lease extension disputes
- Applications to the First-tier Tribunal (Property Chamber) to resolve a lease extension dispute
Our lease extension advice fees
Lease extensions can be costly, so it is understandable to want to keep your legal costs to a minimum. Our team understand this and we work hard to keep our costs down so we can pass these savings onto our clients without compromising on the exceptional quality of the service we deliver.
By keeping our overheads low and focusing on efficiency, we have been able to reduce our costs so we can offer the highest levels of legal expertise and service at a lower cost than many of our competitors.
Where appropriate, we are able to handle some lease extensions on a fixed fee or capped fee basis, making it easier for you to budget with confidence.
For more complex lease extension situations, where ongoing support is required, we will work to an agreed hourly rate dependent on the level of expertise needed. We will provide a clear cost estimate at the outset and any additional expenditure will be agreed in advance, so you always stay in control.
To find out more about our lease extension legal advice fees and to request a cost estimate, please get in touch.
Speak to our lease extension solicitors
To discuss your requirements with our proactive lease extension experts, please get in touch.
