Lease Extension & Leasehold Enfranchisement
Our Solicitors have extensive experience in leasehold extension and enfranchisement law and right to manage transfers.
Although there is a statutory right to each of these activities, the potential for costly, stressful disputes is high if the processes and procedures are not correctly undertaken.
We are one of the busiest Residential Property Solicitors in Coventry and Warwickshire. Our reputation for excellence in quickly and effectively managing leasehold extensions and enfranchisements is known throughout the area. You can be confident that by instructing us, the legal aspects of your extension or enfranchisement will run smoothly.
We are a diverse, multi-lingual law firm that uses best-in-class technology to provide clients with streamlined, modern, and highly effective residential property advice and representation. Our years of experience in leasehold extension and enfranchisement law means we have a robust reputation for excellence with the UK’s best Barristers and Queen’s Counsel, Estate Agents, Independent Financial Advisers, Surveyors, and Mortgage Brokers who can bring additional support to our Residential Conveyancing Department if required.
We hold a Law Society Conveyancing Quality Accreditation, meaning we are recognised as having the capability to provide quality conveyancing advice, use a regulated process to recognise and reduce risk, and meet Law Society standards when providing conveyancing services.
Below are some common questions we are asked about leasehold extensions and enfranchisement.
What is the difference between a leasehold and a freehold?
If you buy a leasehold property, you will own the house but not the land on which the house is built. In the case of an apartment, you own your flat but not the building or the land. The land or apartment complex belongs to the freeholder, who is often referred to as a landlord. Furthermore, you only own your house or flat for a set period. Technically, when you buy a leasehold property, you are purchasing a long term lease, although you can buy and sell the physical premises.
If you purchase a freehold property, you own both the land and any buildings that sit upon it for an unlimited time. The Civil Aviation Act 1982 provides that freeholders also ‘own’ and have rights to the ‘airspace’ above their property up to about 500 feet.
Why do I need to extend my lease?
If you do not extend your lease the ownership of your property reverts back to the landlord. It is vital to keep an eye on how long your lease has to run. Once it approaches 83-82 years, you should renew your lease as once the length of your lease drops below 80 years, you will need to pay 50 per cent of the property’s ‘marriage value’ to the landlord on top of the usual cost of the renewal. The ‘marriage value’ is the extra value extending your lease adds to the property.
What is leasehold enfranchisement?
The Leasehold Reform, Housing and Urban Development Act 1993 (LRHUDA 1993) provides the right for leaseholders of flats to come together to purchase the freehold of their building.
If you own a leasehold house, the Leasehold Reform Act 1967 provides the right for you to purchase the freehold of the land your house sits on (as well as extend your lease).
Leasehold enfranchisement is a specialist area of law. Our Leasehold Extension and Enfranchisement Solicitors will take care of everything for you and advise you on the precise steps to take to ensure either process runs smoothly.
What is a ‘nominee purchaser’
If you and other leaseholders want to purchase the freehold of your building you will need to nominate a purchaser. Typically, leaseholders choose to form a company to purchase the freehold and manage the building following the purchase. As part of managing the leasehold enfranchisement process, we will set up the company on your behalf and advise you on various agreements that will mitigate the risks of disputes developing between leaseholders over the purchase of the freehold and future management of the building.
What is the Right to Manage?
If you are unhappy with the way your building is being managed and/or the way your service charge is being spent or the amount demanded, the Commonhold and Leasehold Reform Act 2002 provides a right for you and other leaseholders to acquire the landlord’s management functions by transferring them to a Right To Manage (RTM) company.
Although your landlord’s consent to transfer the right to manage is not needed, there is a substantial amount of work required to transfer the management to the leaseholders. Our Right to Manage Solicitors will advise and represent you and the other leaseholders, set up the RTM company, and examine any agreements between the RTM company and a managing agent (should it (the company) choose to appoint one).
Why choose us?
People choose and recommend us because we care about them, their family, and their future. We are focused on results and achieving them cost-effectively and efficiently. Our Residential Conveyancing Solicitors will take care of every aspect of your leasehold extension or enfranchisement so you can concentrate on other aspects of your life.
To talk to us about a leasehold extension or enfranchisement, please contact us using the form below.
Meet your 'Lease Extension & Leasehold Enfranchisement' specialists
The team to guide you through your legal needs.
Depending upon the complexity we are able to offer fixed fees in some cases. In other cases our solicitors chargethe following hourly rate:
- Partner/Member SolicitorHourly rate of £250 + VAT
- Senior Solicitor or Head of Dept: (PQE 8yr+)Hourly rate of £225 + VAT
- Assistant Solicitor/Fee Earner (PQE 3/7yr)Hourly rate of £200 + VAT
- Newly Qualified Fee Earner (PQE 1/3yr)Hourly rate of £170 + VAT
- Paralegals/TraineesHourly rate of £120 + VAT
- Support ParalegalsHourly rate of £100 + VAT