Lease Extension and Enfranchisement

 

Extending your residential property lease, buying the freehold or managing leasehold flats

• The process of extending your lease, buying a freehold or managing the leasehold building that
  you live in is called leasehold enfranchisement.

• It can be a complicated process so you need experienced lawyers.

• We have managed hundreds of lease extensions, purchase of freeholds and right to manage
  across the UK.

​​

What is leasehold enfranchisement law? - If you are looking to extend your lease or purchase the

freehold, the legal process you go through is known as leasehold enfranchisement. The law currently

allows leaseholders to purchase the freehold of their property or extend their lease. This gives them

greater control over their property and can increase its value. The law sets out the process and

requirements for leaseholders to exercise their right to enfranchise.

If the lease on your property is getting down towards 80 years, you may be looking for a lease extension.

​

Many lenders are reluctant to lend on a property where the lease has less than 90 years remaining.

 

Extending the lease of your flat - Leasehold flat-owners are entitled to get a 90 year lease extension at a fair market price. You are usually legally entitled to extend your lease if you have owned your flat for at least two years.

​

Buying the freehold or extending the lease on your house - Most leasehold house owners have the right to acquire the freehold (or a 50 year lease extension but people usually prefer to acquire the freehold) as well as any intermediate leases on their home.

​

You are usually entitled to purchase the freehold provided that the building qualifies, the lease qualifies and the tenant qualifies

​

Communally buying the freehold and extending the leases on a block of flats - Leasehold tenants who share a block of flats are entitled to collectively purchase the freehold and any head leases of their building.  You are usually entitled to purchase the freehold if both the building and the tenants qualify. There are a number of strict requirements and we can establish on your behalf whether you qualify.

 

Right to manage your building - Collectively, leasehold flat-owners have the statutory right to take over the management of their property from the landlord by setting up a special company – a right to manage company.

​

Right of refusal to purchase your flat - Where a landlord is proposing to sell his interest in a building containing your flat they must offer you first refusal to buy it, before offering it on the open market. They must give you a fair time to consider and cannot sell to anyone else in this time.

​

Recently purchased new-build leasehold properties - Since 2017 measures have been in place to prevent unfair and abusive practices within the leasehold system, including a ban on leaseholds for almost all new-build houses. If you have recently purchased a new-build leasehold property, there may be legal options available to you.

​

Negotiating with landlords can be a complex and stressful process. Regulations are often complex too. We can explain your rights, manage the negotiations on your behalf and ensure that the landlord complies with their duties and that any price for a lease extension or purchase of a property is fair and legal.

 

Why us? - Our award winning team (Property Lawyers of the Year  South East 2023-4) can be with you every step of the way, whether you are taking on a lease or need help managing your commercial property. Our award winning team of residential property experts act for private clients, high-net-worth individuals, landlords, property developers and investors.

​

Seagull Legal Services

legal@seagulllegalservices.co.uk

Tel 03450650005 

​

We use jargon free language and provide a multi award winning service to all of our clients.

 

WE WILL NOT BE BEATEN ON QUALITY OF SERVICE​

​

That’s why we win our awards !