Lease Extension Services
The Leasehold Reform, Housing and Urban Development Act 1993 gives leaseholders in England & Wales the right to extend their flat’s lease by 90 years and reduce ground rent to a nominal amount. Our specialist lease extension solicitors are here to guide you through this process.
Why Extend Your Lease?
A lease is a depreciating asset—its value decreases as the lease term shortens. If your lease drops below 80 years, the cost to extend increases significantly. Failing to extend could make your property harder to sell or even result in losing the property when the lease expires.
To avoid these issues, consider extending your lease as soon as possible. You can either negotiate an informal extension with your landlord or follow the statutory lease extension process if you qualify.
Eligibility for Lease Extension
- The lease must be longer than 21 years.
- You must have owned the lease for at least 2 years.
- The ground rent is nominal.
How the Lease Extension Process Works
Extending a lease is a technical process that can be complicated by reluctant landlords. Here’s how we help:
- Eligibility Check: We confirm if you can extend your lease.
- RICS Valuation: We arrange a professional valuation to determine the premium.
- Section 42 Notice: We prepare and serve the legal notice to your landlord.
- Negotiation: We handle any counterclaims and negotiate the premium.
- Deed of Covenant: We finalise the legal documentation.
- Land Registry: We register the extended lease.
Our experienced solicitors ensure the process is smooth and protect your interests at every step.
Transparent Pricing
We offer competitive fees for lease extensions and provide a clear cost breakdown from the outset. Our three-stage process includes eligibility checks, drafting the Section 42 Notice, and handling the registration at the Land Registry. You’ll also need to budget for the landlord’s reasonable costs, valuation fees, and potential Stamp Duty.
For more information, visit GOV.UK – Leasehold Property or use the lease extension calculator at Lease-Advice.org.
Let Nova Solicitors manage your lease extension from start to finish, ensuring a secure and legitimate outcome.
