Buying a flat with an 81 year lease – the problems and how to overcome them

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Lease extension solicitors – your solution to short lease problemsBuying a flat with 81 year lease. Specialist lease extension solicitors

Don’t let the fact that the flat you are considering buying has an 81 year lease on it make you completely rule out purchasing it. The critical amount of time left on a lease is 80 years. If the lease has below 80 years remaining the ‘marriage value’ component of the premium payable to the freeholder for the lease extension will add significantly to the cost of that extension – we are talking a few thousand pounds here at the very least.

From the day that the remaining term dips under that critical 80 year period, the ‘marriage value’ will steadily increase as the length of the lease decreases – so extending the lease should ideally be done before it drops below that 80 years point.
Click here to read more about Marriage Value and the government’s 2025 proposal to abolish it

Got a lease extension question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

The abolition of the 2 year rule

Life has become much simpler for any leaseholder buying a property with 81 years left on the lease. That’s because on January 31, 2025, the so-called “2 year rule” was abolished. So no longer does any leaseholder have to wait 2 years from the date they bought the property to apply for a statutory lease extension. That right is now theirs from day 1 of ownership.

And the abolition of the two-year rule makes no difference to an informal lease extension i.e.approaching the freeholder to extend your lease on a voluntary, informal or private basis i.e. without having to make a formal S42 application under the Leasehold Reform, Housing and Urban Development Act 1993 (as amended). The potential downside to this option is that the freeholder might refuse outright, or agree and then change their mind, or finally they might agree but impose an inflated premium and disadvantageous lease conditions on you. Fortunately with the abolition of the 2 year rule, there is less scope for the freeholder to do this – as the alternative – the formal lease extension – is available immediately

Additionally, with no legally binding timescale to comply with the freeholder might agree to extend the lease and drag their feet until the lease drops further.
Click here to read more about the voluntary lease extension

And there’s more good news with this formal statutory route – as soon the section 42 notice is served by the vendor, the lease effectively freezes – it stops getting shorter during the application process

Want help with your lease extension? Contact us today

One of our specialist lease extension solicitors will be able to advise you in detail on what is involved in extending the lease on a property with an 81 year lease.

Our team can advise you wherever you live in England and Wales and we don’t even need to see you – taking your instructions by e-mail, phone and Zoom video:

  • Just call us on FREEPHONE 0800 1404544 for a FREE initial phone consultation and a FREE quote for your lease extension
  • Complete the contact form below

    Who is exempt from lease extension?

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    The vast majority of residential leases originally granted for at least 21 years, are eligible Who is exempt from lease extension?for lease extension.Under the Leasehold Reform, Housing and Urban Development Act 1993, lessees have a legal right in extending the lease on their flats for an additional 90 years without ground rent, although they will need to pay the freeholder to take up this right. but certain types of property are exempt from lease extension.

    Want to know more about lease extension? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

    The right the right to extend your lease – are you or your property exempt?

    Certain leaseholders however are completely exempt from the right to a statutory  lease extension, including if:

    • the freeholder is part of a charitable housing trust and the flat is provided by the charity as part of charitable work

    • the original lease was granted for less than 21 years

    • the property is a National Trust building

    • the property is owned by the Crown

    • the property is within the boundaries of a cathedral precinct

    • the flat is owned on a “shared ownership” basis and the leaseholder has not “staircased” up to 100% ownership.

    • it is a business lease

    NB  the requirement that any leaseholder has been registered as the owner for less than two years abolished on January 31, 2025. Anyone buying a short lease property can now apply for a formal lease extension on day one.

    My property is exempt from the right to lease extension. Can I still agree an informal lease extension with the freeholder?

    Although in all other cases it is your legal right to apply for an extended lease, these factors not necessarily make you outright exempt.

    So yes, it it may still be possible to attempt to arrange a leasehold extension via an informal negotiation with your landlord. However there are risks in going down this voluntary route, rather than the more formal or statutory route.
    Click here to read more about private, informal or voluntary lease extensions

    For advice to trust from specialist Lease Extension Solicitors, call us today

    Instruct our team of specialist specialist  lease extension solicitors who will guide you through this complex process and help eliminate the worry from what can be a stressful situation for both lessees and freeholders.

    For FREE initial phone advice, with no strings attached,

    • Give one of our team a call now on FREEPHONE 0800 1404544, or
    • Send us an email via the contact form below.

      Voluntary Lease Extension

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      Is a Voluntary Lease Extension – Informal and Outside the Act – the Right Way Forward for Me?

      It may initially appear cheaper and quicker to negotiate an ‘arm’s length’, informal, ‘non -statutory’ or voluntary lease extension with your landlord outside the “Act” (the Leasehold Reform Housing and Urban Development Act 1993) – whilst this may seem, on first glance, easier and cheaper, there are very real potential drawbacks and risks.

      Do you have a question about a voluntary lease extension? Call our expert team on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

      As a leaseholder, in the end, you have to make a practical choice on whether to rely on an informal voluntary lease extension or to choose the formal (statutory) route.

      Voluntary or statutory lease extension – factors you need to consider

      Now one of the things you will look at is inevitably overall legal costs. But before you make any final decision, you should always consider the following:

      1. The timescale for extending your lease

      Freeholders can withdraw on any informal or voluntary leasehold extension at any time, leaving leaseholders with no other option than to re-start the whole lease extension process on a formal basis using the Act (provided, of course, that they qualify for the right to do so).

      Timescales can slip and therefore you cannot force the pace when trying to extend your lease on a voluntary basis. Negotiating informally means that you are entirely at the whim of your landlord as to how swiftly the leasehold extension can be wrapped up.

      And whilst some freeholders are decent and ethical, sadly, some simply are not.

      2. Valuation Date

      If a lease’s residual term drops below 80 years, real valuation issues arise. Issuing a formal statutory notice to your landlord of your wish to extend your lease fixes the valuation date at the date the notice was served.

      If there is no formal statutory notice served on your landlord, there is no “fixing” and the landlord will be entitled to request a greater premium if the lease falls below 80 years during voluntary negotiations [this is because, when leases drop below 80 years, the landlord is entitled to an additional payment – known as the “marriage value”].
      Click here to read more about marriage value

      In cases where a lease is approaching the magic 80 year cut off date, it’s unfortunately far from uncommon for landlords to agree to a voluntary leasehold extension only to drag their heels until the lease drops below 80 years – only then to turn their back on any agreed informal price and to then demand the additional “marriage value” premium.

      3. The terms of your lease extension

      When negotiating any voluntary leasehold extension outside the Act, there are no real limits on what can be include in the terms of the lease. As a result, negotiating any informal lease extension can be tricky – and can even lead to the abandonment of the whole leasehold extension.

      When issuing a formal application under the Act, when a statutory notice has the served, negotiations are often quicker and less complex – as the freeholder knows exactly what he has to agree to.

      Whilst amending or updating the terms of your lease can be useful if you’re a leaseholder, make sure you have specialist legal advice. When it comes to informal valuations, too many people do without a solicitor – relying on their freeholder to play fair.

      Unfortunately, in the absence of expert legal advice, you’re entirely at the mercy of your freeholder when it comes to amending your lease. What may look like entirely innocent “modernising” clauses could cost you dear in the future.

      One trick played by many freeholders is to update the ground rent review clause in the lease – in exchange for an apparent concession perhaps with a lower premium or a longer lease extension. But that ground rent review update could be catastrophic – with the freeholder building in significant increases in ground rent which build up over the years, either making your lease very expensive to run or alternatively, making your property effectively impossible to sell.

      And even if you do agree a fair price for your voluntary lease extension, there is absolutely nothing you can do to stop your freeholder changing the terms of any stage – another reason why the statutory route is safer and less dangerous.

      Don’t ever agree to any change in your lease without making entirely sure you understand what it means for you now and in the future – and the best way of doing so is to get a specialist solicitor on your side.

      4. The costs of extending your lease on a voluntary basis

      Increased legal costs can result from lengthy and complicated negotiations. If a leaseholder has to restart with a statutory notice, legal costs for work completed in the unsuccessful voluntary process must be paid as well as the legal costs of a new formal application using the Act. Landlords can be left with unrecoverable legal bills if their solicitor has not acquired undertakings from leaseholders’ solicitors to pay costs.

      The size of the premium that the freeholder ends up with with may also increase if the leaseholder is tempted to do without specialist independent valuation advice.

      What’s more, future lease extensions or freehold purchase will be more expensive if ground rents have been maintained or increased. Why? Because the amount of ground rent payable is one of the factors taken into account when coming up with the lease extension premium. So increasing your ground rent also means you’re increasing the cost of any future lease extension.

      Leaseholders also have the right to challenge the reasonableness of the landlord’s costs if extending under the Act – something that simply not available with any voluntary lease extension.

      The Act does not dictate that the statutory process must take a long time – it merely delivers timescales enforceable in the court or tribunal. Both parties should consider using a notice to protect them if matters do not proceed smoothly, even where the extension is amicable and could otherwise be done outside the Act.

      Do I need to wait for two years ownership before applying for a statutory lease extension

      No – the need for leaseholders to have owned their lease for two years in making a formal lease extension was abolished on January 31, 2025.

      Voluntary Lease Extensions – are there actually any advantages?

      Yes, in some circumstances, an informal lease extension may be the best way to go – but that depends entirely on your freeholder – and in particular how reasonable they are and whether they’re willing to cooperate.

      If you do get a helpful freeholder, here are the advantages of going down the voluntary route;

      • Speed – you’re not hampered by a statutory timetable – so with swift and cooperative freeholder, the whole thing could be tied up much more quickly
      • You can vary the length of the lease extension – the statutory route gives you just one option – 90 more years on your lease. In contrast an informal lease extension means you can agree an extension for whatever period you like with your landlord. This often comes in most useful when your lease is approaching the crucial 80 year stage, or when you are thinking of selling up and know that the relatively short length of the lease is going to mean problems getting a good price. You can agree any length of extension you like – as little as 10 years is not unusual. but these sort of short lease extensions are far from perfect. Apart from all the dangers listed above, you will also find that you will probably end up paying more proportionately for a short lease than the full 90 years, and bear in mind you’re still going to have to pay potentially legal and surveying costs for you and your freeholder. So while it may resolve a problem, a short lease extension may well prove quite an expensive solution.
      • You can vary the terms of your lease – if cash is short but you need to extend your lease, then some landlords agree to a lower premium in return for an increase in ground rent. But beware. Getting the terms in a lease variation wrong could rebound on you – as indicated above, an  increasingly higher ground rent in the future could affect the value of your property or even make it virtually impossible to sell on the open market.

      What are main differences between the statutory and voluntary lease extension routes?

      Can I just approach my landlord for a lease extension? Yes you can.

      The question should perhaps be: ‘why would you want to approach your landlord for an informal lease extension?’

      The easiest way to answer that and other questions is to compare the advantages and disadvantages of that making an informal lease extension with making an application under the Leasehold Reform Act 1993.

      Here is a summary of those differences:

      Questions Informal lease application Application under the Leasehold Reform Act 1993
      Do I have to have owned the property for 2 or more years before I make the application? No. No.  The two year rule was abolished on January 31, 2025
      I am guaranteed a ‘peppercorn rent’ with the extended lease? No – your landlord/freeholder could insist on a higher ground rent. Yes.  You will obtain a peppercorn ground rent for the combined period covering the remaining duration of the original lease and the extended lease.
      Is any agreement to extend my leases I make with my landlord binding? No.  Your landlord can initially agree to extend the lease and then change his/her mind. Yes – once you have served your initial notice on your landlord they become part of the process and must respond in line with the requirements of the Act.
      Can I expect the premium for the extension to based on current market rates or a recognised formula and be reasonable? No.  There is nothing to stop your landlord/freeholder from asking for a grossly inflated premium for your extension and demanding payment of suspiciously hefty costs.  He or she will probably be aware that the calculation of the premium doesn’t have to be guided by the relevant schedule of the Leasehold Reform Act 1993. Yes.  Schedule 13, Part II of the Act states specifically that the premium shall be the total of:

      ·       the diminution in the value of the landlord’s interest in the flat

      ·       the landlord’s share of the marriage value

      ·       Compensation for loss arising from the grant of the new lease.
      Can I challenge my landlord/freeholder about the level of his costs and the leasehold premium if I consider them to be unreasonable? Yes.  However your landlord is under no obligation to reduce the level of his costs and the premium as a result of your challenge. With informal lease applications, negotiations can rapidly sink to the level of ‘take it or leave it’. Yes and under the Act you have the right to formally challenge the reasonableness of your landlord’s offer and then, if agreement still can’t be reached, to take your case to the First-Tier Property Tribunal an for independent decision on the matter.
      Can I expect my landlord to grant me the extension within a reasonable timescale? No.  Your landlord is not obliged to tie him/herself to any pre-agreed timescale and has the potential freedom, if he is unfortunately grasping and calculating enough, to delay granting you your lease extension until the remaining duration of the original lease has fallen below eighty years and the marriage value can be factored into the premium (it remains at 0% whilst the lease has eighty or more  years to run). Yes.  The Leasehold Reform Act sets out an application timetable binding on both leaseholder and landlord/freeholder.  The clock also stops ticking on the valuation of your property on the date on which your initial notice under the Act is served on your landlord. and with the statutory route, if your freeholder doesn’t cooperate, then your solicitor can apply for what is known as a Vesting Order to force cooperation.

      THINKING OF A VOLUNTARY LEASE EXTENSION OUTSIDE THE ACT? CALL US TODAY

      Wherever you live in England and Wales, we can help you extend your lease- whether you decide on the informal or statutory route. We can manage the process from start to finish,  keeping in contact with you regularly using email, telephone – or Zoom video if you prefer .

      Our team have helped around 10,000 people extend their lease or buy the freehold of their block nationwide. We can help you too.

      • Call our experts now FREEPHONE 0800 1404544 for a FREE initial phone consultation and a FREE quote for your lease extension, OR
      • Get in touch using the contact form below.

        Lease extension in Newcastle

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        More than around 300,100 people call the city of Newcastle home, according to the 2021 census, and if you own a flat in the city, your lease will need to be extended one day. What’s more, did you know that you have the legal right to force your freeholder to extend the term of your lease – by up to an additional 90 years?

        Newcastle is the most populous city in the north-east of England, with a booming cultural centre and enormous regeneration having been carried out in the city since its decline from an industrial heartland in the 1970s. As a result, Newcastle and the surrounding area has a large number of leasehold flats (often under an unusual form of ownership known as “Tyneside leases” – see below) as well as some leasehold houses. And in November 2024, the average price of a flat or maisonette in Newcastle upon Tyne was £138,000 according to Right Move.

        Thinking about extending your lease? Got a legal question? Call our specialist team now on FREEPHONE 0800 1404544 for FREE initial phone advice.

        The problems with short leases

        The problem with owning any flat or apartment owned under a long lease [i.e. the lease was originally granted for at least 21 years] is that the term of that lease will gradually decline. The shorter the lease the less the property is worth and the harder it is to sell or mortgage.

        If your flat or apartment has 85 years or less to run, we strongly suggest you look at extending your lease as soon as possible..

        WHY EXTEND MY LEASE NOW?

        Your lease can be extended at any time but delaying your lease extension can cause problems later and could turn out to be a lot more expensive than you planned. So why extend your lease now?

        • The cost of extend your lease is rising, day by day

        In the current economic climate, there are two reasons why putting off your leasehold  extension is only costing you more money. Firstly, as your lease gradually gets shorter, it’s getting gradually more expensive, day by day, to extend it. Worse still, with house prices currently rising, that means the value of your property is rising – and one of the factors in assessing the premium for your residential lease extension is the value of your property. So, the more your flat is worth, the more you have to pay to extend your lease.

        In fact, specialist lease extension surveyors in London recently estimated that the cost of extending a lease, in London at least, is going up by whacking 12% each and every year – if that continues, that means that the cost any flat owner will have to have to pay to extend their lease could double in under seven years!

        • Extending your lease takes time

        Whilst coming to an informal lease extension agreement with your freeholder can sometimes be sorted out relatively quickly – you have no control over the process, and there are some real risks with this voluntary route get a lease extension. The alternative, and the only way to make sure you have control and can ensure you gain that lease extension, is through the formal, or statutory, route. The problem with this. Formal route is that there are certain inbuilt notice periods and as result, it usually takes around six months for your lease extension to be completed. If you’re not thinking of selling up, then it’s not so much of a problem. But if you do come to sell, and have found the new home of your dreams, and then find that you can’t extend your lease in under six months, the whole chain could collapse.

        • Extending your lease makes your flat easier to sell

        Flats with long lease terms are much easier to sell – purchasers prefer them – and they attract higher prices.

        What’s more, mortgage lenders seem to be increasingly reluctant to lend on any property with a short lease –although 20 years ago it was possible to get a mortgage on a flat with say 50 years left, many lenders now refuse to lend, if the term is below 70 or even 80 years. So even if your flat was built fairly recently, say in 1970 with a original 99 year lease, any prospective buyer will find it nearly impossible to get a mortgage to fund the purchase.

        DO I REALLY NEED A SPECIALIST SOLICITOR FOR MY LEASE EXTENSION?

        You might think that it’s really easy to extend your own lease. After all, you only need to ask your freeholder, right? In fact, many freeholders will refuse to cooperate or will drag out negotiations to the point where they hope leaseholders will simply give in. For example, when the remaining term of a lease is approaching the 80 year point, it’s not unusual for unscrupulous freeholders to go slow with the clear aim of letting the lease drop below the 80-year mark – when they can charge you an additional premium to extend your lease – which will cost you thousands of pounds.

        Although it involves a complex area of law, extending a lease doesn’t need to be a nightmare if you instruct a specialist solicitor – to help you through what can be tricky legal process which requires patience, experience and expertise.

        And the need for an experienced specialist is even more important in Newcastle. That’s because many flats have what is known as a Tyneside Lease, which is found in very few other parts of the country. Also known as a‘criss-cross lease’ or ‘crossover lease’,  this type of ownership occurs where there are two maisonettes in the building.

        And unusually, each owner of the respective maisonettes become the freeholder of the other – hence “criss-cross”.

        By appointing one of our team as your solicitor, you can rest assured that your lease extension is being dealt with by a genuine specialist. They don’t dabble – extending leases is all they do.

        TO SUM UP – OUR ADVICE

        In short, our advice is simple – don’t delay – extend your lease now.

        YOUR NEWCASTLE LEASE EXTENSION – HOW WE CAN HELP

        With over 25 years experience in many thousands of lease extensions for leaseholders and freeholders alike, we have the expertise to make sure your lease extension goes smoothly;

        • We offer FREE initial telephone advice – just call us on FREEPHONE 0800 1404544

        • We work with the only Newcastle-based surveyor who really understands how to value your lease – like solicitors, lease extension surveyors need to be specialists. Very few surveyors are able to value the premium required for lease extension accurately. We are happy to instruct him on your behalf to value your lease extension – as part of our one-stop shop service

        • We manage your lease extension timetable

        • We draft all the legal documents and notices

        • If there is a dispute regarding your lease extension, we can take the matter to the Leasehold Valuation Tribunal [ recently re-titled the ”First-tier tribunal – Property Chamber (Residential Property)] – but only if it’s strictly necessary, which thankfully it very rarely is.

        1 KEY QUESTION

        If you’re still not sure whether you need our specialist team – maybe you have a long-standing Newcastle-based solicitor you really like – just ask them once in question. “How many lease extensions have a completed the last year?”

        THINKING OF A LEASE EXTENSION IN NEWCASTLE? CALL OUR SPECIALISTS NOW

        Over the last 25 years, our solicitors have been involved in many thousands of lease extensions – for clients throughout England and Wales. For most all of our lease extension work, we deal with clients solely through telephone, email or video call.

        And don’t forget – initial phone advice from experts is FREE – so what have you got to lose?

        • Simply, call our team now on FREEPHONE 0800 1404544 or,

        • Fill out the email contact form below

          Bath Lease Extension Solicitors

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          Bath is a picturesque city of almost 90,000 people, nestled in the county of Somerset. It’s famous for its Roman baths and Georgian architecture and is a popular place for young families looking to start their lives together.

          Given the price of property in Bath [ 2024 saw the overall average price of property in Bath rise to £384k ], it is no surprise that it is home to a particularly large number of leasehold flats – both purpose-built and conversions from older properties.

          When any property is owned on a leasehold rather than freehold basis, you effectively own the property for limited period of time – and you don’t own the land it’s built on out right. That means that eventually the lease term will run out and you will know longer own the flat – and in the meantime, year by year, the declining lease term reduces the flats value.

          Unless there been a subject of freehold purchase, the vast majority of flats in England and Wales are leasehold.

          Thinking about extending your lease? Got a question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

          WHY YOU NEED TO EXTEND YOUR LEASE

          Your lease term reduces with each and every year. This decreases the market value of your property as well making it increasingly less attractive to potential buyers.

          In particular, once you let the lease term slip below 80 years, extending your lease gets rapidly more expensive [that’s because the “marriage value” becomes payable to your freeholder – click here to learn more about that].

          NOW IS THE RIGHT TIME TO EXTEND YOUR LEASE

          The lease extension process can be very long and arduous, so don’t leave it until it’s too late. Your lease stops getting shorter if you choose the formal route and serve the required notice on your freeholder, so don’t delay. What’s more, with property prices increasing you are hit by a double whammy – a shorter term means increased expense as does the increasing in the value of your flat.

          In fact we have recently come across some surveyors who estimate that every year you delay extending your lease means you have to pay an extra 12% for your lease extension. That means in around just seven years, extending your lease will cost you double!

          Remember: the earlier you extend your lease, the cheaper it will be.

          YOUR LEASE EXTENSION – WHY CHOOSE US?

          Extending a lease without the advice of a specialist solicitor is never a good move, as you can get burned if you don’t know what you’re doing.

          Leasehold extensions usually involve keeping to rigid deadlines – missing one of those, can cause significant difficulties.

          What’s more, if your freeholder tries to drag out the process even longer, your fees and stress levels will increase and it could become a whole lot messier. It’s for this reason that it’s essential that you get the right legal advice – from a lease extension specialist.

          The law surrounding lease extensions is relatively complex and very few solicitors, even specialist property solicitors, deal with more than the occasional lease extension.

          Our team are different. They specialise in lease extension for both leaseholders and freeholders throughout England and Wales – that’s why we are one of a small number of solicitors who are members of the only organisation for specialist lease extension solicitors – ALEP, the Association of Leasehold Enfranchisement Practitioners.

          Our team also have years of experience of handling difficult freeholders, and are well aware of all the tricks that certain unscrupulous landlords try to play. If it becomes necessary, our team also have plenty of experience in taking cases to the First-Tier Property Tribunal [previously known as the LVT or Leasehold Valuation Tribunal]

          HOW WE CAN HELP YOU EXTEND YOUR LEASE

          Our specialist team will:

          • provide you with FREE initial advice – just call FREEPHONE 0800 1404544 now
          • provide a FREE ESTIMATE of how much your lease extension is likely to cost – including not just the legal and valuation costs but we can also give you an estimate of how much the actual lease extension premium will be..
          • as part of our one-stop shop service, we will identify and instruct on your behalf a local specialist lease extension surveyor who will value your lease extension and can help you to negotiate a reasonable premium for the extension.
          • do all of the paperwork – whether or not a formal notice is required, or whether you have agreed a private and informal lease extension with your freeholder.
          • handle any application to the First-Tier Property Tribunal – in the unlikely event that becomes necessary

          With one of our specialist team on board to handle the legal side for you,, the whole process should move much more quickly and sleekly, with you being able to rest assured that a professional is handling matters and will ensure that everything is completed as it should be.

          YOUR BATH LEASE EXTENSION – WE CAN HELP

          If you live in Bath and you’re thinking of extending your lease, or would like some information as to the potential benefits and costs of doing so, give us a call and our specialist team be more than happy to talk through your options with you – FREE of charge with no strings attached.

          Although we are based in Salisbury, we represent clients nationwide – in fact we really meet our clients, and regularly handle hundreds of lease extensions every year by phone email and Skype video

          • So just call us on FREEPHONE 0800 1404544 for a FREE initial phone consultation and a FREE quote for your lease extension
            OR
          • Complete the email contact form below

            Liverpool Lease Extension Solicitors

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            After the end of industry and manufacturing in the area in the 1970s and 1980s, Liverpool declined into a city with an extremely high level of unemployment and a very high level of poverty. Extensive regeneration in the 1990s and 2000s, though, has transformed Liverpool into a city of culture and business, with Liverpool even having been declared the official City of Culture.

            Employment rates in Liverpool are now very good, and as a result a number of people are able to buy their own properties in the city. Housing supply hasn’t kept up with demand, though, which has pushed prices up and meant that for many people their only option is to purchase a leasehold flat.

            Many flat-owners in Liverpool need to extend the leases on their properties – yet many of them don’t even realise that they have the legal right to do so.

            Extending the lease on your value of your flat [whether or not you actually live in it, or are a buy to let landlord] makes great financial sense. You almost certain to end up with an significant increase in the value of your flat as a direct result.

            But don’t forget – the longer you leave your lease extension, the more expensive extending your lease is going to be.

            Thinking about lease extension? Got a question? Call our experts on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

            MAKE SURE YOU APPOINT A  LEASE EXTENSION SPECIALIST

            Lease extensions involve complex legislation, tight deadlines and various other complications. Many non-specialists property solicitors will try their hand at a lease extension only to find that they’re out of their depth and cannot represent their client’s needs sufficiently. This is why it is so essential that the solicitor you instruct for your lease extension is a specialist

            Our specialist lease extension solicitors have vital experience interacting with landlords who will often try to disrupt lease extension negotiations. A popular trick is to delay proceedings so that the leaseholder’s lease runs below the pivotal 80 year limit so that it costs far more to extend the lease. Experienced lease extension solicitors will not fall for these tricks and if necessary they will be able to apply for a Leasehold Valuation Tribunal to speed up the process. Don’t forget that the landlord is likely to instruct a specialist themselves, so make sure that you are on an equal footing.

            YOUR LEASE EXTENSION – WHY CHOOSE US?

            Here are just a few reasons:

            • We’ll draft all the documents and manage the deadlines

            • Our team of 5 lease extension experts have vast experience helping thousands of clients with extending a lease

            • We are proven specialists – we are long-standing  members of the Association of Leasehold Enfranchisement Practitioners (ALEP)

            CALL TODAY FOR HELP WITH YOUR LIVERPOOL LEASE EXTENSION

            Our specialist team manage the lease extension process from start to finish for the majority of our clients without needing to meet face-to-face – keeping in contact via email, telephone or Zoom video.

            • Just call us now on FREEPHONE 0800 1404544 for a FREE initial phone consultation and a FREE quote for your lease extension, OR
            • Complete the email contact form below

              Portsmouth Lease Extension Solicitors

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              The city of Portsmouth is situated on the south coast of England and is popular amongst anyone who wants to live in a coastal area without the need to break the bank. This is, in part, due to its large percentage of flats and leasehold properties.

              Portsmouth is almost entirely located on Portsea Island, making it the UK’s only island city. It is also the only city in the UK with a higher population density than London (at 11 times the national average), with more than 208,000 people living in the city, according to the 2021 census making it the 6th largest urban area in England.

              When you add that to the fact that between 2011 and 2021, Portsmouth’s population has continue to increase, you’ll see why the area has a particularly large number of flats – both new builds and conversions.

              But if you do own a flat in Portsmouth – have you thought about extending your lease? In fact, are you even aware that you have the legal right to force your freeholder to grant you an additional 90 years to add onto the current remaining term of your lease?

              Considering extending your lease? Got a legal question? Call our experts today  on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

              WHY EXTEND MY LEASE?

              You’ll find more detailed explanation elsewhere on the site on exactly why a lease extension is so important – but in brief, if you don’t extend your lease you risk the following problems;

              • Trying to sell a flat with a short lease is getting increasingly difficult. Buyers generally prefer leases with longer terms, and more and more mortgage lenders are getting reluctant to grant mortgages on short leases – before the recession it wasn’t unusual to see home loans provided for flats with, say, 50 or 60 years left to run – now most mortgage companies require around 70 to 80 years remaining on a lease
              • At some stage your flat is going to need a leasehold extension – unless you’re happy to simply hand ownership back to the freeholder
              • Everyday you delay extending a lease is likely to cost you more money. Firstly the shorter your lease the more it will cost to extend it, and secondly, with house prices rising, that means that the premium you need to pay to your landlord is going up too – in fact a reputable firm of specialist lease extension surveyors recently estimated that in London, the price of extending the average lease was going up by a staggering 12% each and every year!

              Want to know more about how it all works. Click here to read about the leasehold extension process.

              SO WHY CHOOSE US TO HELP EXTEND YOUR LEASE?

              •  We are genuine specialists – which is so important and given the complexity of lease extension law
              •  We have the proven experience you need – we’ve completed thousands of lease extensions for satisfied clients over the last 20 years  – Just click here to read testimonials from just some of our satisfied clients
              •  We provide FREE initial advice over the phone
              •  We can handle your lease extension from beginning to the end. Our team will deal with all the paperwork and can identify and appoint on your behalf, if you wish, a specialist leasehold extension valuer – an expert surveyor who you will need to provide a price for your lease extension, and who will help in negotiations of reasonable premium with whoever owns the freehold of your block

              YOUR PORTSMOUTH LEASE EXTENSION – GIVE US A RING TODAY

              If you live in Portsmouth and you are thinking about extending your lease, just contact us now for FREE specialist advice with no strings attached.

              •  Just call one of our team now on FREEPHONE 0800 1404544 or [01722] 422300 OR
              •  Email us using the contact form below

                Bristol Lease Extension Solicitors

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                Do you own a leasehold flat in Bristol? If so, you should be thinking about extending your lease. Those who delay lease extensions end up paying a heavy price – so get in touch with our solicitors today to get yours out of the way.

                Bristol is currently home to more than 437,500 people, and it’s growing all the time. As a vibrant cultural hub, Bristol has an increasing rental and leasehold market with more and more people looking to buy a home in the city. In fact, the population has boomed from just 380,615 at the time of the 2001 census, making it one of the fastest growing cities in the UK.

                The growing demand for properties in Bristol has meant that buying a leasehold flat or apartment has become increasingly popular – enabling, in particular, young people and couples to get on the housing ladder when perhaps they simply can’t manage the expense of buying a house.

                Want to know more about lease extension question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

                WHY BOTHER EXTENDING YOUR LEASE?

                Extending your lease increases the value of your flat

                The shorter the remaining length of your lease, the less valuable your property will be should you decide to sell.

                Therefore, the longer your leave your leasehold extension, the more value you lose on the property. By contrast, properties with very long leases will hold far greater value and may even fetch a similar price to a flat with joint freehold. Extending your lease makes your flat easy to sell

                Flats with short leases are often very hard to sell.

                Potential buyers are almost always more likely to buy flats with longer leases. One of the reasons for that is that many lenders simply won’t lend on short leases. So if, for example you let your lease drop as low as 50, you may find that the only buyers able to purchase your property are cash buyers – and they’ll be looking for a real bargain and looking to drive your price down

                Extend your Lease and pay zero ground rent

                If you extend your lease you will only have to pay what is known as “a peppercorn rent”  which is effectively zero. Most leases have clauses allowing for regular increases in ground rent – often every 10 years but sometimes more often. And older leases also tend to have much bigger permitted increases in those regular ground rent reviews. So paying a peppercorn rent can save you a lot of money

                HOW WILL A SPECIALIST LEASE EXTENSION SOLICITOR HELP YOU?

                If you instruct one of our lease extension solicitors you will be giving yourself the best chance of securing a fair deal for your lease extension. Many generalist lawyers today are tempted to experiment with lease extension work only to make serious mistakes. By contrast, our solicitors understand the complexities of this area of law and can help you with the following:

                • Managing the lease extension timetable: strict deadlines apply to lease extension work so it is important that your solicitor is able to manage the process and collect all relevant information in time

                • Finding a surveyor: it is crucial that you find a reputable surveyor to value your lease. Our solicitors will be able to put you in touch with experts

                • Dealing with difficult landlords: Many landlords either refuse to co-operate or deliberately impede negotiations. The aim of this is to let your lease run down below the crucial 80 year mark when prices for extension rise dramatically. Should they continue to act obstructively, your solicitor will be able to apply to the First-Tier Property Tribunal

                • Drafting legal documents and typing up loose ends post-completion

                BRISTOL LEASE EXTENSIONS – OUR EXPERT TEAM CAN HELP

                If you instruct the specialist lease extension team and Bonallack & Bishop you will receive advice from acknowledged experts. And we are members of the Association of Leasehold Enfranchisement Solicitors.

                Our three-strong team of leasehold extension experts contains a wealth of experience and would be happy to help you with your property –  and lease extension and freehold purchase is all they do .

                How much does lease extension cost? Click here to find out

                WHAT DOES A LEASE EXTENSION VALUATION SURVEYOR DO?

                If you’re going to extend your lease, you’ll need to instruct a specialist surveyor who specializes in determining the value of a property for the purpose of extending the lease. And very few surveyors specialise in this area.

                Properly valuing the premium you will need to pay to your freeholder is important because it forms the basis of negotiations between the leaseholder and the freeholder regarding the cost of extending the lease.

                The surveyor considers various factors such as the remaining length of the lease, the condition of the property, local property market trends, and the leaseholder’s right to extend their lease, among others. The surveyor will then provide an estimate of the cost of extending the lease, taking into account any potential increase in value that may result from the extension. This information can be used by both the leaseholder and the freeholder to reach an agreement on the terms of the lease extension.

                With 25 years of experience in extending leases for leaseholders nationwide, we have developed an informal panel of surveyors who really understand lease extension valuation. If you would like an introduction to 1 of them who covers the Bristol area, just let us know. We regularly appoint specialist valuers on behalf of our clients as part of our one-stop shop service.

                FOR ADVICE ON EXTENDING YOUR LEASE – CONTACT OUR SPECIALISTS TODAY

                Remember that the cost of extending your lease goes up with every month that passes.

                So take action and contact us today to start the lease extension process. We needn’t see you in person and should be able to complete your lease extension by phone, email and Skype.

                • Just call us on FREEPHONE 0800 1404544 for a FREE initial phone consultation and a FREE quote for your lease extension, OR
                • Complete the email contact form below

                  Bradford Lease Extension Solicitors

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                  Bradford has a population of over 530,000, according to 2023 statistics, which makes it one of the U.K.’s biggest cities – and it continues to grow. And it has around 30,000 flats, many of which are starting to suffer from short leases. And leaving it too long to extend your lease can lead to massive expense in the long run so it is important to start the process sooner rather than later. If you live in Bradford and you are looking to extend the lease on your flat, the dedicated lease extension team at Bonallack & Bishop can help.

                  Got a leasehold extension question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

                  LEASE EXTENSION – APPOINTING AN EXPERT IS CRUCIAL

                  Your lease extension solicitor will need to understand the complexities of lease extension work and be aware of the various deadlines involved. Furthermore, your solicitor will need links with expert surveyors who will value the lease. These things require expertise and as a result it is crucial that your lease extension solicitor is a specialist.

                  Whilst the vast majority of landlords are very respectable, you may find yourself locked in negotiations with an unscrupulous landlord. If your lease runs below 80 years it costs far more to extend it and some landlords will attempt to stall negotiations so that the lease runs below this critical period. Lease extensions experts will recognise such scheming and be able to apply to a Leasehold Valuation Tribunal if necessary.

                  EXTENDING A LEASE – INSTRUCT ONE OF OUR SPECIALISTS

                  The word ‘specialist’ is bandied about a lot these days so it can be difficult to work our whether or not a solicitor genuinely specialises in lease extension work. We can take the guesswork out of choosing a lease extension solicitor because we are accredited experts. As well as being members of the Association of Leasehold Enfranchisement Practitioners we are featured acknowledged as experts on Leasehold Advisory Website.and we are the only solicitors recommended for lease extension by the HomeOwners Alliance – the UK’s leading organisation who champion the interests of the country’s homeowners.Bradford Lease Extension Solicitors. HomeOwners Alliance logo

                  What’s more, we have a 5 strong team who only do lease extension, leasehold enfranchisement and right to manage company work – nothing else!

                  LEASEHOLD EXTENSIONS – YOUR RIGHTS

                  Were you aware there is legislation giving owners of leasehold flats and houses the right to increase the value of their property by extending their lease?

                  Provided it’s a residential flat we are talking about (there’s no automatic right to lease extension for commercial property) with a lease that was originally granted for a minimum of 21 years (most leases start at 99 or 125 years) and you have owned the property for at least 2 years, in general terms you are likely to be entitled to extend the term of your lease by a further 90 years – whether your freeholder likes it or not. and what’s more, if you use this formal statutory route to lease extension, you won’t need to pay any ground rent and future.

                  NB as an alternative, it is possible to reach an informal agreement with your freeholder to extend your lease. But that’s not a legal right – and your freeholder can pull out at any time, and there’s nothing you can do about it. But with a cooperative freeholder, and if you want something apart from the standard additional 90 years, a private voluntary or informal lease extension can work – but there are risks.

                  CONTACT US TODAY FOR EXPERT LEASE EXTENSION ADVICE TO TRUST

                  We act for clients throughout England and Wales. Our clients need not be able to meet us in office because we can see your lease extension through from start to finish, keeping in contact through Zoom, email or over the phone.

                  So if you are considering a lease extension in Bradford, for a free quote, to receive initial advice or to arrange a consultation, simply dial 01722 422300, or email us using the contact form below:

                    Manchester Lease Extension Solicitors

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                    Manchester is the third largest city in England after London and Birmingham, and is home to more than 515,000 people. Although the city had long been neglected, it has boomed in recent years with enormous cultural developments and infrastructure projects including the new MediaCityUK building in Salford, home to the BBC.

                    What’s more, Manchester’s has seen an increasing number of privately owned leasehold flats and apartments – either purpose-built, converted from older purposes or bought from the council and social landlords

                    And everyone of those flat is going to need a lease extension at some time.

                    If you own the leasehold on a flat in Manchester, the chances are that you will need to extend your lease sooner rather than later. Putting off your lease extension will only lead to more expense when you eventually get round to it, so it is important that you act now.

                    Thinking about extending your lease? Got a question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.

                    MAKE SURE YOU HAVE A MANCHESTER LEASE EXTENSION SPECIALIST ONSIDE

                    The importance of instructing a specialist lease extension solicitor must not be underestimated. Lease extensions are highly specialist areas of property law and the relevant legislation is very complicated.

                    Many solicitors may believe that they have enough expertise to take on lease extension work only to find themselves struggling to meet their clients’ needs due to the complexity of the legal work. This is not the case with our accredited lease extension experts.

                    There are many deadlines involved in lease extension work and if one of these is missed it can cause enormous problems.

                    Furthermore, interacting with difficult landlords requires experience and a detailed knowledge of lease extension law. Sometimes landlords will attempt to stall negotiations so that it will cost the leaseholder far more to complete the residential lease extension process.

                    Solicitors must be able to identify these tricks and take the matter to first-tier property Tribunal [previously known as the Leasehold Valuation Tribunal] if necessary.

                    YOUR MANCHESTER LEASE EXTENSION – HOW WE CAN HELP

                    If you choose our leasehold extension solicitors you can be sure that you are appointing accredited experts. We are also members of the Association of Leasehold Enfranchisement Practitioners.

                    We have a team of five lease extension experts.  Extending residential leases is all they do – with around 350 lease extensions being completed nationwide out by us each year.

                    So with our in-depth knowledge of the legal process,  you can trust us with the complicated drafting of documents and tight deadlines associated with your lease extension.

                    THE IMPORTANCE OF GETTING SPECIALIST VALUATION ADVICE WHEN EXTENDING A LEASE

                    A lease extension valuation surveyor is a specialist who you will need to accurately value the premium to be paid to your freeholder. They consider factors such as the condition of the property, existing length of the lease, local market trends, and rights to extend the lease that can all affect the cost of extending it.

                    With years of experience in helping people around 10,000 people like you extend their leases or by their freeholds nationwide, we have a panel of surveyors on standby who understand this specialised field to provide reliable valuations for our clients. And we are always happy to introduce you to 1 of them covers valuation in the extended Manchester area as part of our one-stop shop service.

                    LIVE IN MANCHESTER? LOOKING FOR A SPECIALIST LEASE EXTENSION SOLICITOR?

                    Our expert Lease Extension team can advise you wherever you live in the UK and we don’t even need to see you – taking your instructions by e-mail, phone and Skype video.

                    Don’t risk appointing a solicitor who doesn’t specialise in this complex field.

                    For a FREE initial phone consultation and a FREE quote for your lease extension,

                    • Simply, call our team now on FREEPHONE 0800 14045440 or,
                    • Fill out the contact form below to start receiving advice on the lease extension process.