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Our Chartered Surveyors have extensive experience acting for leaseholders throughout their lease extension process. Each year we successfully settle hundreds of lease extension cases on behalf of our clients whether this be via an informal or statutory route for their properties at national level.
Our Chartered Surveyors, Paul Holder MRICS, Michael Barber FRICS and Geoff Holden FRICS are RICS registered and have successfully represented clients in a number of cases taken through to tribunal for determination.
We understand that the lease extension process can be daunting and stressful. Our team work hard to ensure that you are offered the very best personal service all through your relationship with us. We work closely with your legal professionals and ensure that you are kept up to date and informed with the very best advice at each stage of the process.
We offer our clients a lease extension valuation service which includes an inspection of the property followed by undertaking the necessary research and lease extension premium calculation.
Our clients are also given a recommendation on the best way to proceed with their lease extension based on our extensive experience of dealing with individual freeholders and their valuers. You can also count on us to negotiate a fair price and terms for your lease extension.
Our valuation fees are fixed and competitively priced so that you can be fully aware of your costs. Our negotiation fees are normally charged on a time cost basis and are capped at an upper limit ensuring a saving is always made and so that you are not subjected to any unexpected costs.
We also offer significant discounts when acting for a number of leaseholders in the same block at the same time. We can also introduce you to specialist solicitors who also offer competitive fee options.
If you are selling or buying a property and only require a basic valuation assessment as a guide to determine if terms offered by a freeholder are reasonable we also offer a desktop valuation service. This service is not normally suitable to provide figures for the service of a formal notice or detailed negotiations.
We are also able to act for freeholders in lease extension cases. If you are a freeholder requiring a lease extension valuation please get in touch with us to discuss your requirements.
Any leaseholder who has owned a leasehold residential property for more than two years which was originally sold for a leasehold term longer than 21 years is eligible to obtain a Statutory Lease Extension.
A property held on a long lease is a wasting asset because a leaseholder only owns the property for a period of years. As the term of year’s decrease, the value of the leasehold property decreases. Along with that, the amount you will pay to the freeholder to extend the lease will increase.
A statutory lease extension gives a leaseholder a set 90 year extension added to their existing unexpired lease term (ie if your lease has 70 years remaining your statutory lease extension will give you a new term of 160 years). It also resets the ground rent to a peppercorn per year (zero) for the duration of the lease. This ground rent cannot be increased or reviewed during the whole of the new lease term.
The right to a lease extension often passes to family members so you can extend the lease.
There may be others in your block that have a similar idea, so it is worth speaking to others. If you cannot purchase your freehold, you could go ahead as a group and extend your leases.
Valuation
We offer fixed price valuation fees depending on the location of the property and the amount of work that is involved. We often provide reduced fees if the matter is straightforward and does not involve inspecting the property. We are also able to offer discount where we are carrying out more than one valuation at a time.
Negotiation
We charge a separate fixed negotiation fee for negotiating terms with the freeholder or leaseholder. We are also able to offer discount where we are carrying out more than one negotiation at a time.
