By the very nature of leasehold property the length of the lease will reduce over time, diminishing the value of the property.
If you are a leaseholder you should consider extending the lease at the earliest opportunity. The shorter your lease becomes, the more expensive it will be to extend. It is possible to agree an extension by informal negotiation with the freeholder, failing that it will be necessary to use a legal process.
If you are a landlord and receive requests or statutory notices from your tenants then you must act quickly otherwise your position may be compromised. We can assist you to ensure that the appropriate counter-notice is served on your tenant within the statutory time limits.
At DMH Stallard our specialist landlord & tenant and residential property teams work closely together to achieve the best result for you whether you are a landlord or a tenant.
What our residential property team do
Our specialist lease extension team can help you with:
- Serving statutory notices: we will ensure that the notices are completed and served correctly
- Ensuring all statutory deadlines are met: it is essential that deadlines are strictly adhered to and we will work with you to ensure that these are met and we can work with your valuer to ensure the best financial outcome on the premium is achieved
- Drafting and approving lease extension deeds: we will deal with all conveyancing aspects of the lease extension to ensure it reflects the agreement reached
- Liaising with your mortgage lender: if you have a mortgage secured over your leasehold property and have agreed an extension of your lease outside of the statutory provisions then the consent of your lender will be required and we will make arrangements to obtain this
- Registering the new lease with the Land Registry: the title to your property will need to be updated following completion of the lease extension.
How our residential property team work
Our specialist lawyers have vast experience in lease extensions acting for landlords and tenants. We offer a professional and bespoke service that suits you.
It is a service characterised by approachability, efficiency, expertise and experience.
And we pride ourselves on our relationship with you, meaning you can usually talk directly to the person who is dealing with your transaction.
Read more about our full range of residential property services.