Did you know if you are selling a flat with a short lease you can do so whilst the statutory lease extension is still uncompleted? The 1993 Leasehold Reform Housing & Urban Development Act requires leaseholders to have owned the property for two years before being able to claim a statutory lease extension. However, there […]
A Section 42 Notice is the formal notice a leaseholder issues to their freeholder when claiming their legal right to a statutory lease extension. Also referred to as the Tenants Notice, a Section 42 Notice allows leaseholders to begin formal proceedings to extend their lease. The lease extension adds an additional 90 years to the […]
Are you aware of the unexpired term left on your lease? Losing track of the length of your lease could land you with a bill for thousands of pounds. The sooner you can extend the better, saving you money and stress further down the line. The cost of extending the lease will depend on a […]
The UK property market remains cautious after the recession. The majority of lenders now require much longer unexpired lease terms than ever before for a property to be considered suitable mortgage security, with many not lending upon terms less than 70 years unexpired. Solicitors and Surveyors acting for purchasers will advise clients not to purchase […]
