Follow The Lease Extension Process To Extend Your Leasehold

Leasehold reforms offer the leaseholder to extend the lease by meeting the criteria.  According to the 1993 Leasehold Reform Act, if the leaseholder has owned the flat for more than two years then he/she can apply for lease extension in London.  There are various options for lease extension but it is always better to extend the lease for a longer period. When you are applying for the lease extension which is of less than 80 years then an additional marriage cost is payable by the lessee to the landlord, apart from the other types of costs. So, it is always a better option to take the legal help for extending Lease in London. It saves you from paying the marriage cost which is half of the increased value of the flat.

Do it formally if there is a tiff between you and your landlord

If you are living on the leased property and have the tiff with your landlord, it doesn’t mean that landlord can pull you out of your flat. You have the full right to apply for the lease extension. It is a simpler and quicker method for extending the lease.

The process of extending lease includes serving the notice period to the “competent landlord” who is a landlord with longer interest in the property. He is also able to grant the extension to the leaseholder. It is better to appoint the solicitor for serving the notice legally. Now, hire the value for the best possible negotiations on the lease extension and determining the premium payable. Finally, subsequent procedures are followed to extend the lease.