Archive for Statutory Lease Extensions

Selling whilst in the process of obtaining a statutory lease extension

Posted on 12/12/13, filed under Fresh News, Statutory Lease Extensions

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 […]

Section 42 Notices: The Tenants Notice

Posted on 07/10/13, filed under Lease Extension Advice, Leasehold Valuation Tribunal, Statutory Lease Extensions

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 […]

How much do Lease Extensions Cost?

Posted on 11/09/13, filed under Lease Extension Advice, Lease extensions, Statutory Lease Extensions

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 […]

Re-Negotiating a Lease Extension

Posted on 19/07/13, filed under Leasehold Valuation Tribunal, Statutory Lease Extensions

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 […]