Lease Extension

We act for Freeholders, Intermediate Leaseholders, and Leaseholders in the extension of leases of flats under the Leasehold Reform, Housing and Urban Development Act 1993, or on a voluntary basis.

The full range of areas of work we cover is summarised lower down this page, together with links to provide fuller details.

We take account of the Leasehold Reform, Housing and Urban Development Act 1993, and other relevant matters including:

• Qualifying lease; 
• Deeds of variation;
• Licences for alterations; and
• Other documents of relevance. 

If there is an intermediate lease, we advise on the implications, including whether the interest in the flat is a Minor Intermediate Leasehold Interest (‘MILI’). 

In order to calculate the premium for lease extensions of flats, we as Chartered Surveyors, Regulated by RICS, with Registered Valuers that are experts in lease extensions: 

• inspect the flat;
• calculate the floor area;
• research the market; and
• value the flat on the lease term existing, extended and with 999 years unexpired and a share of the freehold, all excluding the benefit of the 1993 Act, and the amount improvements have added to value.

Lease Extension.  Premium negotiations.

After reporting, we attempt to negotiate the premium with the other side's valuer, to save you the expense and risks of a First Tier Tribunal (Property Chamber) hearing, with possible appeal to the Upper Tribunal (Lands Chamber).

Lease Extension.  Expert evidence.

If negotiations do not progress so we can recommend settlement, we provide a Cost Benefit Analyses to assess the sense of proceeding with a hearing in the First Tier Tribunal (Property Chamber), or if the case is subsequently appealed, in the Upper Tribunal (Lands Chamber).

If a decision is taken to proceed to tribunal, we prepare and give expert evidence at the hearing, after which the tribunal will issue their determination.

Lease Extension.  Examples of our recent work.

Examples of our recent work are:

• Lease Extension:  Negotiated a lease extension of a flat on a voluntary basis, so that the purchaser entered into agreement, that upon exchange of contracts, the freeholder became contractually bound to grant a 90 year extension, upon simultaneous receipt of the premium, transfer, and completion of the lease.

• Quantified increase in premium arising from solicitor’s negligence:  Reported on the premium likely to be receivable for a voluntary lease extension, to avoid the purchasers having to wait a period of two years from the date their purchase is registered, due to the prior Deemed Withdrawal of a Claim, arising from a negligent solicitor failing to correctly assign the Benefit of the Notice of Claim.

• Lease Extension and variation of lease:  Reported on the premium likely to be receivable for the extension of a lease, including advising that an undersized parking space is demised, the further premium likely to be obtainable for varying the lease to demise a standard size space, and on the terms to be quoted for such variation, and counter-proposed for the lease extension.

• Valuation for Acquisition / Lease Extension:  Reported on the premium likely to be payable for the statutory 90 year extension of the leases of two flats, held on terms with 11 and 19 years unexpired, the reasonableness of the provisionally agreed purchase price, and strategy for negotiation.

• Lease Extension - two flats:  Gave evidence to the First Tier Tribunal, resulting in a saving of £1,080,000 in the premium, as compared to the one sought by the freeholder’s valuers in order to settle, rather than have the case determined by the First Tier Tribunal (Property Chamber).

• Lease extension report for vendor:  Assisted the client vendor’s marketing of a flat held on a short lease, by advising on the premium likely to be payable for the extension of the lease, assuming the vendor serves Notice of Claim, with the benefit being assigned to the purchaser, in order to avoid them having to wait two years from the date their purchase is registered with the Land Registry before being able to serve Notice of Claim.

Our services: We are able to advise you on the premium for the extension of a lease, under the Leasehold Reform, Housing and Urban Development Act 1993, or on a voluntary basis.  We are also able to advise on the figures to be inserted in Notices of Claim, or Counter-notices, depending on who we are acting for.  We are Chartered Surveyors, Regulated by RICS, with Registered Valuers that are experts in lease extensions and enfranchisement.  We are also able to provide further information in relation to lease extensions.