Our experienced team can provide a full range of services in this area, including:
- Lease surrenders, renewals, and variations
- Lease extensions of flats (individual or multiple)
- Collective enfranchisement
Lease surrenders, renewals and variations
The surrender of a lease is an agreement between the tenant and their immediate landlord resulting in the termination of the lease.
We can also advise on renewing short term leases or on varying existing lease terms.
We are experienced in dealing with all lease extensions. Residential long leaseholders have a statutory right (in certain circumstances) to obtain a new lease for a price. Most lease extensions will involve the payment of a premium to the landlord which is an additional sum of money to compensate them for granting a longer term and therefore reducing their interest in the property.
On purchasing a leasehold property many mortgage lenders require the lease term to be of a certain length or they will not grant a mortgage. This would mean that you would need to agree an extension of the lease before you can go ahead with your purchase. We can assist you as the buyer in extending the lease term we can also assist you as the seller in extending the same in readiness for sale.
Tenants of flats with long leases have the right, where certain conditions are satisfied, to act together to acquire the freehold of their building.
We will guide you through what can be a complex and confusing area of law, explaining and advising on the procedural requirements, and working with you to manage the process as quickly and cost-effectively as possible.