Do you own a leasehold flat? Are you worried that the lease is getting too short and you might have problems selling the flat now or in the future?

A lease is often described as a diminishing asset because when it gets shorter through the passage of time, it loses value. This is why it costs money to increase its length.

Well, help is at hand! There are two ways a lease can be extended – by contacting the freeholder (the landlord) to negotiate a new lease or by exercising your rights under the law and serving a special Notice on the landlord to force him or her to extend the lease.

Under the first option, the landlord may offer whatever it pleases and you have no right of appeal. However, you might get a good deal but you might not. Under the second option, you will be given an additional 90 years on your lease and the ground rent will be immediately reduced to zero (a peppercorn).

How We Can Help?

We at RF&C have extensive experience in this area of law, known as Leasehold Enfranchisement. We can manage the process from start to finish including registering your new lease at the Land Registry all for a fixed fee so that you do not need to worry about legal fees rising. Unfortunately, you will be responsible for meeting the landlord’s legal and valuation costs. To discover the likely premium you will pay for your lease extension, why not click on www.extendthelease.com for a valuation.

Our head of lease extensions, Robert Wood, would welcome a call from you for a free telephone consultation to discuss your requirements.

No win No fee

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Visnia