Lease Extension

The shorter the term remaining on a lease the more expensive it is to extend.

We are well versed in acting on your behalf in a lease extension claim.  We will lead you through the process, liaise with your solicitor throughout, provide a comprehensive valuation report and negotiate on your behalf, as well as represent you at the Leasehold Valuation Tribunal if necessary.

Whether you are a leaseholder, intermediate leaseholder or freeholder we can assist you through the process and act on your behalf to achieve the desired result.

In brief a leaseholder will qualify if:

• Ownership exceeds two years.  There is no residency requirement and the flat can be held in a company name.
• The original lease was granted for a term greater than 21 years at a low ground rent.

This is not a full list of all the requirements, your solicitor will investigate the qualifying criteria fully.

We can provide you with contact details for specialist solicitors who can assist you in this process.

Please note that the cost of acquiring a lease extension increases when the lease drops below 80 years due to the inclusion of marriage value.

Should you be in a situation where you are considering the purchase of a flat it may still possible to arrange for the existing owner to serve a notice, the benefit of which can be assigned to you prior to completion.

Click on this link to view a generic timeline which sets out the salient points of a lease extension claim.  A statutory lease extension claim grants an additional 90 years at a nil ground rent.  It is of course possible to deal with a lease extension on a voluntary basis however we would recommend that the statutory route is followed.

If you would like further information or a formal fee quote please call the Professional Valuation Department on 020 7591 8746 or email valdep@dng.co.uk.