Apply to extend your lease
You can ask us as the freeholder to extend your lease at any time. To extend your lease you will need to speak to a conveyancer or solicitor.
They will serve us with a: Section 42 Notice under the Leasehold Reform, Housing and Urban Development Act 1993, as amended.
How much does a lease extension cost?
When you extend a lease you can expect to pay the following fees:
- lease premium costs
- your solicitor’s fees
- our legal fees
- our administration fees
- our valuer fees.
Our legal, administration and valuer’s fees are approximately £1,000 to £2,500. This is subject to change, please ask for an estimate at the time of your application. For more details see our extending a lease guide.
Who can apply for a lease extension?
To apply for a lease extension you must have owned the lease on the property for at least two years. You will have to pay the freeholder's legal and valuation costs.
You will also need to pay your own costs and the lease premium; the price to extend the lease.
We can only discuss the cost of the lease extension with you. But, only when you have served formal notice first.
Your application can be referred to the First Tier Property (Chambers) Tribunal for a decision. This is if a cost for the lease extension cannot be agreed by both parties.
What happens after a lease extension?
After you extend your lease you will have an extra 90 years on the unexpired term. Your annual ground rent will be 'peppercorn.' This means you will no longer have any ground rent to pay. For more details, see our Leasehold advisory service.