Almost all London flats are let on long leases with an original term of 99 years. The value of the lease diminishes as the lease expires. There is little or no difference in value between a 99 year lease and an 80 year lease but when the term of the lease drops below 80 years the value of the flat begins to fall. Banks and building societies may be unwilling to lend against a lease that has a term of less than 60 years left to run. Extending the term of the lease can therefore make your flat more marketable and will increase its value.

Many law firms are not willing to take on lease extension or leasehold enfranchisement work. We have the necessary specialist expertise and know-how to ensure our clients are provided with the best possible advice when the length of the term of a lease becomes an issue.

Who qualifies?

In order to qualify for the right to extend:

1. the lease must have been for a term of 21 years or more when originally granted, and
2. the leaseholder must have owned the flat for 2 years before applying for an extension.

If you think you may qualify or would like further information including being sent our detailed lease extension brochure, please contact either Christopher Lloyd or Caroline Sielle who shall be pleased to assist.