Garrath Reayer
Head of Residential Property
Freehold Purchase - Lease extensions
If you own a leasehold property, purchasing the freehold or extending the lease can be a vital way to maintain or increase its value. Because the land is owned separately by a landlord, it can be hard to sell a leasehold property or raise a mortgage for it.
Why do you need legal help to buy a property?
You only own a leasehold property for the extent of the lease - your landlord has permanent ownership, or 'freehold' of the land and building. When the time left on the lease of a flat drops below 80 years, the property becomes significantly more difficult to sell. The premium payable to the landlord for extending the lease also goes up.
Our expert solicitors have extensive experience in a wide range of leasehold enfranchisement options, including:
- Lease extension
- Individual purchase of the freehold
- Collective enfranchisement (where a number of tenants wish to buy the freehold)
- Right to manage (tenants take management of a building without buying the freehold)
- Tenant's right of first refusal to buy the freehold of a building
- Auction sales and rights of first refusal
- Residential management matters such as Deeds of Covenant or Licences for Alterations
- Residents Associations
Speak to our experts
We have the largest private client team in the UK, our team of experts are here to provide discreet legal advice to support you and your family.
Why extend my lease?
When the time left on the lease of a flat drops below 80 years, the property becomes significantly more difficult to sell.
This has a considerable effect on its market value and may have implications for your future financial plans. As a leasehold tenant you are also restricted in what alterations you can make to the property, subletting and the use of the property.
Leasehold enfranchisement can raise the value of your property and offer you more security.
Whether you are a landlord or an individual tenant or part of a group, we can advise you of your rights. Call today for a no obligation consultation
We’re here to help
Complete our enquiry form and one of our experts will contact you by the next working day.
Alternatively, you can call us now.
Our opening hours are Monday to Friday 8am to 6pm (Excluding Public Holidays).
0370 1500 100
Making an enquiry
We have several ways you can contact us, either by completing our online contact form, by phone, or using our live chat. If you start your journey online, here are the first steps to working together.
Complete our online formWe need a few details to understand your situation and the kind of support you need.
We’ll contact you by phoneOn the call our experts will ask you a few more questions to make sure we connect you with the right legal advice from our team.
We arrange a full appointmentYour next step is an in-depth appointment with a specialist solicitor to discuss how we could advise you.
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