Leasehold Extension Form Test
Why extend your lease?
- Your lease is gradually losing value. The shorter any remaining lease term becomes, the less it is worth – and as a result any extension of your lease gets more expensive. So the value of your flat is likely to be significantly increased by a properly negotiated lease extension.
- Mortgages are much harder to obtain on shorter leases. Some lenders simply refuse a mortgage on leases with under 60-70 years remaining.
- A short lease is usually more difficult to sell. Many purchasers are simply reluctant to purchase any lease with less than 90 years left.
When considering extending your lease, buying your freehold or applying for the Right to Manage, the first thing you need to do is appoint a specialist solicitor to help you with the legal aspects. Our partners at Bonallack and Bishop are members of the Association of Leasehold Enfranchisement Practitioners with over 25 years of experience.
Why use our partners?
- After receiving hundreds of calls for help with leasehold extension here at the HomeOwners Alliance, we went on the search for a leasehold extension solicitor with extensive experience, whose leasehold advice you could rely on, who had great customer feedback and was a member of the Association of Leasehold Enfranchisement practitioners (ALEP).
- Our chosen partners at Bonallack and Bishop provide FREE initial telephone advice and a FREE ESTIMATE of how much your lease extension is likely to cost you – which will include a very rough estimate of the likely price of your premium, as well as the legal and valuation costs.
- Their lease extension solicitors can assist you without the need for a face to face meeting by taking instructions by e-mail and phone.
- Their solicitors can handle the process from beginning to end – working alongside specialist surveyors from the initial valuation, all the way, if required, to the First-tier tribunal – Property Chamber (Residential Property) which deals with leasehold valuations.
- Their solicitors work with specialist surveyors every day – so, as part of the service, they can also put you in touch with a surveyor who specialises in this field and really understands how to value the premium you will need to pay.
How else we can help you
In addition to helping you to extend your lease, the solicitors at Bollanack and Bishop are also highly experienced in dealing with the following two related issues:
- Freehold Enfranchisement – leaseholders have the right to come together and buy the freehold to their block of flats.
- Right to Manage Companies – you may be entitled to force your landlord to transfer to you and some, or all, of your fellow leaseholders the right to manage your own block. With a history of bad block management, this can sometimes save considerable amounts of money.