Pindoria Solicitors has experienced property lawyers specialising in leasehold extensions helping our clients to extend the leases of their flats and/or purchase the freeholds of their buildings.
As lease extension solicitors in London, we provide a fixed fee free from jargon and efficient service for lease extensions helping you to successfully either process an agreed extension or negotiate with the freeholder whilst at the same time following the necessary statutory procedure. Our lease extension surveyors London provides clients with the most reliable lease extension valuation.
Our lease extension solicitors are experienced in leasehold extension and enfranchisement issues throughout the UK.
- Extending a lease
- Right to manage issues
- Claims for collective enfranchisement (also known as leasehold enfranchisement)
- Right to manage issues
- New leases
- Variation deeds
Our specialist lease extension solicitors in London represent property management companies, landlords and residents associations, providing jargon-free legal services and practical legal advice. Feel free to contact our property lawyers for more information about rules and laws relating to lease extensions.
What is a lease extension?
A lease extension is a legal document that refers to the process of extending the terms of a lease or rental agreement. A lease extension is a fairly standard procedure used by commercial and residential landlords and tenants and between people who lease plants, machinery, equipment, and vehicles to others.
Lease extension solicitors are fully equipped to draw up a contract that specifically names all the parties involved in the agreement. It will also mention the start and end dates of the extension and make clear reference to the previous agreement that is now being extended.
When should I extend my lease?
In answer to your question, ‘when should you extend your lease?’ -as a rule of thumb, eighty years is considered the right time to extend your lease. If the lease year drops below the 80-year mark, the premium amount required to extend the lease increases dramatically since the marriage value begins payable. The marriage value is the value increase of the lease resulting from the sanction of a new lease.
Lease extension can be a challenging and time-consuming task. That is why it is important to seek reliable lease solicitors who have the right experience handling lease extensions.
How much will it cost to extend my lease?
Ideally, the longer you hold on to a lease, the higher the value of your property. Moreover, the cost of extending lease is also higher. So, if you own a leasehold property in London, even though you might be ‘owning’ the property, you do not have control over the building. If the owner sells the property, the lease is automatically transferred to the new buyer.
To accurately know the leasehold extension cost is within limits, you should calculate it based on the value of the leased property and the number of years left on the lease period. The final cost of extension will include the actual lease extension solicitors costs, legal expenses and Land Registry costs.
However, it is impossible to come up with an accurate extension cost without first looking into the specific case details, the rent charged, and the present market value of the property.
Can I extend my lease without a solicitor?
Legally speaking, you can talk to your landlord about lease extension – informally – and come to a lease extension agreement. Yes, this can save you a lot of time, money and effort. It would help if you remembered that since it’s an informal agreement and made without lease extension solicitors help, small changes to the terms of the lease could be made without intimation.
However, if you want to draw up a water-tight lease extension agreement, we suggest you contact the services of leasehold extension solicitors. They will guide you in the valuation of the property, take legal action on your behalf and draw up a water-tight agreement.