Most leases last for a fixed number of years. As the end of a lease approaches its value goes down. You may not be able to sell your flat as the buyer will not be able to get a mortgage on it. If your original lease was for over 21 years and you have lived in your flat for more than two years you will almost certainly be entitled to buy a lease extension.
What we do
First we check that you qualify for a lease extension and give you some idea what it is going to cost. Then we take you through the process step by step. You will need to appoint a valuer, and we can recommend valuers who specialise in these types of valuations.
If you are entitled to a new lease it can be quicker and more economical to negotiate a voluntary extension with your landlord. If not, we will help you fill in the forms to start the compulsory procedure. Either way, we handle the whole process on your behalf.
If you want to sell your flat but it has few years left on the lease, you could start the extension process and then transfer the the right to a longer lease to your buyer along with your home. You would have no further involvement in the process. We add the necessary extra clauses to the sale contract.
Why Cripps Harries Hall?
Few property lawyers understand the intracacies of lease extension work or have the relevant experience. We have acted for many tenants, particularly in London. We work closely with your nominated valuer to ensure the matter is concluded as soon as possible.
Should an application to court (the Leasehold Valuation Tribunal) become necessary, we are supported by our property dispute resolution team.
For further information please contact Sally Trevaskis or Fiona McIntosh.
How to end a business lease
How leases of business premises may be brought to an end depends on a number of factors. Who wants to end it; whether the lease is coming to a natural end or whether it is to be terminated early; whether the tenant is in breach, and whether the lease is a true business lease afforded the protection of the Landlord and Tenant Act 1954.