Healys expert leasehold enfranchisement solicitors can support you with regards to any extension of lease or acquisition of freehold be it acting for leaseholder or landlord. With over 10 years’ experience, you can rely on our team to guide you through the process efficiently and achieve the best outcome.
What is Leasehold Enfranchisement?
Leasehold Enfranchisement (also known as Leasehold Reform) is a term used to refer to the process by which tenants can either buy their freehold or acquire a lease extension from their landlords. Leasehold enfranchisement is a complex legal field that requires professional legal advice.
There are two types of leasehold enfranchisement claims, one for flats which is known as collective enfranchisement and another for houses, known as individual enfranchisement.
At Healys LLP, our leasehold enfranchisement solicitors can assist you with:
- Lease extension
- Purchase of the freehold
- Collective enfranchisement (statutory freehold acquisition)
- Right to manage and right of first refusal claims
- A strong network of expert valuers and surveyors
Whether you are a leaseholder or a landlord, we have extensive experience in acting for both and can offer fixed and competitive fees with no hidden charges. You will have direct access to your allocated solicitor, who will be on hand to provide you with regular updates and advice as your matter progresses.
Contact our Leasehold Enfranchisement solicitors today:
Our Leasehold Enfranchisement Department is here to assist leasehold owners and landlords with any residential leasehold matters. For more information regarding Leasehold Enfranchisement, please don’t hesitate to contact Property Litigation Solicitor and specialist, Daniel Winslow and Property Litigation Partner, Mark Davies.
Healys LLP assists in a full range of landlord and tenant matters including housing law, and property disputes. For more information please click here.
FAQs and Legal Advice:
WHEN SHOULD THE LEASE BE EXTENDED?
- From the perspective of the leaseholder, the answer is always as soon as possible. The longer that time goes by the more expensive the premium is likely to be. Alarm bells should start to ring once the lease term begins to reach the 80 year mark as the cost of a lease extension could become significantly higher if the term is allowed to fall below the 80 year mark.
AS A LEASEHOLDER, DO I QUALIFY FOR A LEASE EXTENSION?
- Generally, the only qualifying criteria when it comes to an informal lease extension is that you are the registered proprietor of the property.
- For a statutory lease extension, you must have a long lease (over 21 years from when it was granted) and you must have owned your flat for at least two years.
I AM A LEASEHOLDER AND WANT TO EXTEND MY LEASE. WHAT IS THE PROCESS?
- An informal lease extension will involve simply asking your landlord for a new lease. There is no formal procedure to follow and we can assist you in making that approach.
- A statutory lease extension will involve serving notice on your landlord to let him know the price you propose to pay. You will need a valuer (a qualified surveyor) to advise you on the price and a solicitor to advise you on the process and deal with the documentation.
HOW MUCH WILL A LEASE EXTENSION COST?
- The price you pay to your landlord depends mainly on the value of your flat and the length of the lease. In respect of an informal lease, the premium is usually a figure dictated by the landlord and there is often little room for negotiation.
- In respect of a statutory lease extension, the price is usually negotiated. If agreement cannot be reached then it is decided by a specialist tribunal. The landlord can ask you for 10% deposit.
- In both instances, you will have to pay your landlord’s legal and surveying costs, plus your own costs, although in the case of a statutory lease extension those costs must be reasonable under the legislation.
WHAT IF I WANT TO SELL MY FLAT BEFORE EXTENDING MY LEASE?
- Do not worry, you can pass on the right to extend your lease to your buyer.
WHAT IF I WANT TO BUY A FLAT BUT I AM WORRIED ABOUT THE SHORT LEASE?
- Your seller can pass on to you their right to extend the lease and you can take over the process on completion.
AS A POTENTIAL BUYER, WHY EXTEND?
- Extending your lease may help you obtain a mortgage.
- Extend your lease will increase the value of your property.
WHY HEALYS LLP?
- We have extensive experience with a specialist team.
- We can offer fixed and competitive fees with no hidden charges.
- We provide regular updates.
- Direct access to your solicitor.
- We can advise on eligibility and getting started.
- Help with valuation and negotiations.
- One-stop-shop for preparation of documents.
- Advice on disputes.