Does the lease on your flat or house have less than 80 years left to run?
15th June 2015
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Home owners with leasehold properties with less than 80 years left to run are being urged to take prompt action to protect their most important asset. For anyone whose home is held on a long lease, the message is clear – if you do nothing, your property will eventually revert to the freeholder, your landlord, leaving you empty-handed.

Leaseholders may find that their leases are reducing in length to the point where they need to consider extending them. There are good reasons why a flat owner with a lease having around 80 years remaining should consider taking action to ensure that the lease of their flat is extended without delay.

If you've lived in your property for more than two years you have the right to extend the lease, but the longer you leave it the more expensive it gets. Doing nothing may feel like the attractive option today, but grasping the nettle and tackling your short lease problem could help protect your biggest asset from disappearing into thin air.

Every day that you don't extend your lease, you are handing more value over to your freeholder. So what's stopping you? TWM Solicitors have years of experience dealing with extending leases and can help you make the process run as smoothly as possible.

There are a number of options when it comes to extending you lease.

  • Collective Enfranchisement – how Leaseholders can compulsorily acquire their freehold
  • Individual Lease Extension – how individuals can extend the lease of their flats
  • Right to Manage – how Leaseholders can take over the management of the building
  • Right of First Refusal – the Freeholder’s obligation to offer the freehold to Leaseholders

TWM Solicitors are experienced in dealing with all the above methods and undertake a wide variety of work in this specialist area. So visit their profile page by clicking the banner below and give them a call to have a friendly chat about your options.

About the Author

Andrew M

Member since: 10th July 2012

The Best of Wimbledon and Merton helps to bring all the best local information to all local residents and businesses throughout Wimbledon and Merton. We also bring trusted businesses and the community...

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