Lease Extension — Frequently Asked Questions

To make it possible to grant to residents who participate long leases, possibly with no ground rent. To allow the residents to take control of the management. Many Management Companies consult you only when major works are planned. Own the freehold and you can oversee those major works and all...

I most cases, you will be a "Qualifying leaseholder", if your original lease was more than 21 years, you've had it for more than two years, when originally granted and your property is not Crown, national trust property or a building within a cathedral precinct  Shared ownership leases only...

Many flat owners who are conveyancing clients understandably do not appreciate the difference between leasehold and freehold. When you buy a flat you buy a lease, which is in effect a long-term rental contract. The freeholder owns the building and when each lease expires, the freeholder is...

The price payable for a lease extension includes three elements: the reduction in the value of the landlords’ interests in your flat affected by giving you a lease extension of 90 years half of any marriage value that may be payable. However, there will be no marriage value payable if...

If the main reason for acquiring the freehold is a shortening lease, once the freehold has been acquired it may then be necessary to complete the lease extension , typically to 999 years. At the same time the ground rent may be abolished and clauses in the lease that have caused problems in the...

If the management company has been appointed by your freeholder, once you have taken over the freehold you will be able to replace the company with another of your choosing if you wish. Again, Leasehold Solutions can provide detailed guidance in individual cases. If your management company is...

You can if you wish, but they will invariably get worse. The shorter a lease becomes, the more expensive it becomes to rectify the problem later. We have heard of examples of the costs at least doubling within a few years, particularly where lease lengths have slipped below the critical 80-year...

You may both need to want to buy as 51% need to qualify for a freehold purchase application to be forced. If there are only two flats in a building, both flats must participate. If the other flat wants to participate but cannot afford to do so, you can still acquire the freehold; perhaps by a loan...

No. Your flats will still be leasehold and the leases will still apply. However, residents will be in control of administering the service charges etc.. Any problems with the leases can usually be corrected. Leases can be...

To a certain extent the answer to this question depends on the state of the property market. During the 1990's and indeed up until 2008 when it was very much a seller’s market one would often find the seller and their conveyancing lawyer placing the onus on the buyer and their property...