Freeholders as well as flat-owners will need expert legal advice when it comes to the lease extension process and the leasehold reform specialists at Bonallack & Bishop can help you protect the interests of freeholders.
Statutory lease extension
If you receive a formal request for statutory lease extension, legal advice will be needed for the following reasons:
• It is important to check that the statutory notice is legitimate and whether you are compelled to grant the extension
• The premium stated in the notice may not be sufficient so you may need a solicitor to help you issue a counter notice demanding a higher premium
• You will have to negotiate this premium if it leads to a dispute
• There is various legal work involved in finalising the extension of the lease
Freeholders must adhere to strict time limits involved in the lease extension process and legal advice should therefore be sought at the earliest opportunity.
Non-statutory lease extension
If a leaseholder informally asks for a lease extension you do not technically have to negotiate or even respond. An expert lease extension solicitor will be able to help you negotiate better ground rent terms and may even be able to help you grant a lease shorter than the statutory 90 year period. In order to fully protect your interests it is therefore advisable to instruct a specialist solicitor with links to expert valuers.
Sale of the freehold
We can also help freeholders when they are approached by leaseholders looking to buy their share of the freehold. This process is sometimes referred to as ‘freehold purchase’, ‘collective enfranchisement’ or ‘lease enfranchisement’.
Freeholders – For expert lease extension advice – call us now
Freeholders need access to expert legal advice on lease extensions as well as leaseholders. Our specialists have vast experience helping both freeholders and leaseholders for over 20 years, so:
- Call us today on 0800 1404544 for FREE initial advice, or
- Send us an email via the contact form below.
Comments or questions are welcome.