Residential Leasehold Solicitors.

If you purchase a leasehold property you will purchase a lease from the owner of the building (freeholder) which will grant you the right to live in the property for a set number of years. 

You won’t technically own the property outright as the freeholder (landlord) will continue to own the property and the ground it’s built on. 

Leasehold is very common when buying a flat or apartment that sits within a larger building.

 Leases often include service charge fees for the upkeep and maintenance of the communal areas.  

If you don’t renew your lease before the end of its term the property will automatically convert back to a freehold property.

This means the freeholder, or landlord, will regain possession of the property and you may be asked to vacate the premises.

Depending on your terms and conditions, you may also be liable for any damages to the property.

In short, you don’t want your lease to expire.

Acquiring the freehold of a leasehold property is a complex and often expensive process, but it offers leaseholders greater control over their property.

Many factors will impact the cost of acquiring your freehold. These include:

• Property Value: The higher the property’s value, the more you can anticipate to pay for the freehold.
• Remaining Lease Term: Typically, a property with a shorter lease will be more expensive to by than one with a longer lease term. 
• Ground Rent: If the ground rent is high, this can increase the cost of purchasing the freehold.
• Location: Where the property is located will impact the cost. 
• Legal and Surveyor Fees: You’ll need a solicitor and surveyor to support with the property valuation.
• Negotiations: Often, you’ll want to negotiate the with the existing freeholder in a purchase. It’s advisable you contact a solicitor to support you with this. 

If you’re considering pursuing a right to manage or lease enfranchisement contact us today on 0203 007 5500.

The cost of extending a lease is directly tied to the value of the property. It also varies depending on the remaining term. 

 Extending a lease will add value to a leasehold property. Once a lease falls below 80 years, the landlord is entitled to Marriage Value when the leaseholder is extending their lease. This is what add a significant proportion of the cost to lease renewals. 

Marriage Value means that when extending a lease below 80 years the landlord is entitled to 50% of the value the lease extension will add to the property. For instance, if the property were to gain £25,000 in value from the lease extension, £12,500 must be paid to the landlord during the renewal. 

If you’d like to talk to one of our leasehold experts about your lease renewal you can book an initial consultation by calling 0203 007 5500. 

A Leaseholder Deed of Certificate is a legal document that leaseholders of qualifying leases must submit to their freeholder, landlord or building owner.

Its primary purpose is to provide evidence that the leaseholder’s lease meets the criteria for protection against unaffordable remediation costs under the Building Safety Act 2022.

The Deed only applies to qualifying leases, typically long leases of dwellings in relevant buildings. Relevant buildings are buildings that contain at least two residences and have specific fire or structural safety defects that require remediation work.

These defects could include issues with cladding, fire safety doors, or structural problems that pose a risk to the building’s occupants.

If you’re unsure if you qualify for a leasehold deed of certificate, please contact our solicitors on 0203 007 5500 for more information.

We are currently unable to offer legal aid in any capacity as we lack the necessary legal aid certificate. So, for the time being, we can only accept privately funded cases.