Lease ExtensionsDo you need to hire a chartered surveyor for a lease extension?
Need a lease extension?If you are buying a flat with a lease less than 80 years we suggest you ask us to provide you with a fee for a lease extension, typically adding 90 to 999 years to the existing lease.The Act for a Formal leasehold extension
Leasehold extension is a right granted to tenants by the 1993 Leasehold Reform, Housing and Urban Development Act. This Act allows leaseholders to force the landlord to extend a leasehold by 90 years, which is then added to the remainder of their original lease. The extended lease is then subject to a peppercorn rent, which effectively means that they don’t have to pay any ground rent on that lease.
The Leasehold Reform Act 1993 also lays down the criteria that people need to meet if they want to consider extending their lease and also sets out the process to be followed in order to do so.Report & Lease Extension
- We prepare the lease extension on your behalf and calculate the cost
- We negotiate with the freeholder to agree the cost of extending the lease.
- If you end up in a disagreement with your freeholder over your desire to extend your lease, then you will have to apply to the leasehold valuation tribunal
- Applications to the Leasehold Valuation Tribunal, most extensions that are successfully negotiated end up at a tribunal.
25 years of experience & RICS accredited
We have over 25 years’ experience dealing with residential and commercial properties.
I chose Stuart Scotland. Stuart was very efficient: he called me on the day I visited the website and conducted the survey the next day. He sent me the report the day after. His report gave me a good idea of the condition and value of the property as well as things I had to watch out for. I will use his services again.
–Alice, South Kensington
ALEXANDER SCOTLAND responded to my request for a Surveyor within an hour. The quick service and the fact that he was the lowest price on the list was enough for me to select him. He did the survey the following Monday and sent me his report a few days later.
–Amir, London W3