Lease Extension Services
There are a large number of properties that have been built and sold on a leasehold basis as opposed to freehold or commonhold. This is a common occurrence with flats. A leasehold property allows you to buy the rights to live in a property, for a set period of time. This is often between 99 to 125 years. Leasehold houses, on the other hand, will tend to be for 999 years. Our lease extension solicitors can assist you with extending the lease on your flat or house.
As the length of the lease decreases, the cost of extending rises. Additionally, the freeholder is entitled to a share of the increase in the value of the flat should the lease be extended.
The price of such an extension can vary. The price payable is calculated in accordance with a statutory formula but is commonly negotiated using the formula as a guide. Whilst there is no requirement to have a formal valuation, this is usually advisable as having a detailed valuation carried out by an expert surveyor enables you to negotiate with certainty.
Contact our Lease Extension Solicitors
We would like to discuss your lease extension requirements directly to find out how we can help.
Please contact our lease extension team by sending an email to us at [email protected] and one of our lease extension solicitors shall call you back. Alternatively, please call our solicitors on 0330 127 8888 for a no obligation discussion.
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Monarch Solicitors is building a reputation as a firm that “punches well above its weight”. Built on the principle of providing clients with high quality and personal service, we recently won the North West Greater China Business Award 2019. Managing Partner, Shazda Ahmed, has won the Best Professional in Business 2015, won the Outstanding Young Business Personality in the Northern Powerhouse, and was finalist in the Financial & Professional Services Entrepreneur of the Year category of the Entrepreneur of the year Awards 2016.
Commercial law relates to all business conflicts. It is the body of law that governs business and commercial transactions.
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