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Leasehold Reform Flats

If you own a flat and qualify, you can extend your lease by up to 90 years on top of your remaining term or collectively purchase your freehold together with a minimum of 50% of your neighbouring leaseholders within the building.

Lease extensions and collective enfranchisement can be a complex process and the legal procedures are inflexible. Specialist advice from both expert surveyors and solicitors is strongly recommended.

Lease extension

To quality for a lease extension

  • when the lease was originally granted, it must have been for a term of over 21 years. It does not matter the term remaining on the lease now
  • You must have owned this lease for a minimum period of two years.

 

Procedure for a lease extension

Typically the whole lease extension process can take 6-9 months. In summary the procedure is as follows:

  • The tenant serves a Notice of Claim on the landlord(s), stating a realistic figure which he or she is prepared to pay for the lease extension
  • The landlord replies with a Counter-Notice within 2 months which will state the price at which he is prepared to sell
  • There is then a period of six months for negotiations with a referral to the First-Tier Tribunal to determine the figure if agreement on the premium cannot be reached.

Collective enfranchisement

To qualify for collective enfranchisement

  • The building must be independent or part of a building capable of independent development
  • The building must contain two or more flats with a minimum of two thirds of the total number of flats held by qualifying tenants. (A qualifying tenant has to hold a lease that, when it was granted, was for a term of more than 21 years).

Procedure for collective enfranchisement

  • Leaseholders to serve a Notice of Claim in a similar way to the extension process
  • Once the Notice is served, the landlord serves a Counter-Notice in return within two months
  • As with lease extensions and house enfranchisements, there is then a period for negotiations, with a referral to the First-Tier Tribunal if agreement on the premium cannot be reached.

What else can we do?

  • Advise on Rights of First Refusal under the Landlord and Tenant Act 1987
  • Advise on security of tenure when your lease runs out
  • Private finance and funding advice through Knight Frank Finance
  • Advise on securing third party investors to acquire non-participators shares in relation to collective claims

 

  • Advise on Right to Manage (RTM) companies in conjunction with collective enfranchisement claims
  • Advise on Participation Agreements and costs
  • Advise in relation to residential block management
  • Ground rent reviews
  • Litigation

What our clients say

“I found Riccardo to be extremely professional and efficient in all of my dealings with him and the outcome of the leasehold extension of our flat was extremely beneficial.”

Private leaseholderOctober 2012

 

Guide for leaseholders

Guide for landlords