A lease extension is needed if you want to sell or mortgage a leasehold property when it is near the end of the lease. The lease extension is the process of adding years back onto a lease, and extending the time you have in the property, before it goes back to the landlord’s ownership. You have two ways to do this, either negotiating with the landlord, or by serving a Section 42 notice, which we recommend you discuss with an experienced lease extension solicitor.
What Does A Lease Extension Lawyer Do?
A lease extension lawyer can give you advice on how to go about extending your lease, how long the process might take, your options, and the potential next steps. They can also offer advice on purchasing a freehold, selling a leasehold property with a short amount of time left on the lease, or, simultaneously extending your lease and selling your property.
HOW CAN FITZ HELP?
Homeowners are constantly requiring lease extensions but unfortunately not many people are aware of the process, delay, and expense. At Fitz Solicitors, we are a team of lease extension lawyers who have extensive experience in the field, they can ensure you get the best deal in the most cost effective way.
Some of the aspects of lease extension we have experience with, and can help in, are:
Negotiating informally with a landlord (as to term and premium)
Serving and dealing with Section 42 Notices
Serving and dealing with counter notices
Preparing and approving new leases
Preparing and approving deeds of variations
Attending to matters at Leasehold Valuation Tribunals
Whether you decide to come to an informal agreement, or have decided to proceed down the statutory route, we will be able to advise you on every step of the process.