Lease Extensions

– Department is headed by Mr Sreekumar Narayanan

Extending your lease is important to preserve its worth. However, the legal process involved can be complicated. We can guide you through it. Whether it is an informal or formal lease extension, we can handle all the legal formalities. 

The usual steps in acting for the tenant on a lease extension are:

1. Comply with regulatory requirements:
   1. Obtain instructions from the client.
   2. Verify the client’s identity.
   3. Carry out anti-money laundering checks.

2. For informal lease extensions:
   1. Negotiate with the freeholder to agree on the terms of the lease extension.
   2. Instruct a surveyor to handle valuation aspects.
   3. Agree on the terms and draft the deed of variation.
   4. Register the signed deed of variation with the Land Registry.

3. For formal lease extensions follow the statutory process under the Leasehold Reform, Housing and Urban Development Act 1993:
   1. Ensure the client has owned the property for at least two years. 
   2. Instruct a surveyor to handle valuation aspects.
   3. Serve a s 42 notice on the freeholder stating the intention to extend the lease.
   4. Respond to the freeholder’s s 45 counter-notice and negotiate terms.
   5. Draft, sign, and register the new lease with the Land Registry.
   6. Ensure all documents are correctly signed, dated, and witnessed.
   7. Register the lease extension with the Land Registry using form AP1, Application to Change the Register.
   8. Determine if stamp duty land tax is payable and if so file a return with HM Revenue & Customs.
   9. Inform the freeholder if they are not the party who granted the lease extension.

Why Choose Us?

Efficient management of all paperwork and deadlines.

Expertise in both informal and formal lease extensions.

Experienced in handling all necessary legal steps.