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Lease Extentions and Collective Freehold Purchase

Lease extensions

In the current market conditions you should consider the benefit of exercising your statutory rights to extend the lease of your flat under the Leasehold Reform Housing and Urban Development Act 1993. If you are the owner of a long lease of a flat and have owned the flat for two years you are a qualifying tenant under the legislation.

The benefits of extending your lease are:

  • It will make your property more marketable.
  • You will protect your property from loss of value due to a declining lease term.
  • You will no longer have to pay ground rent.

 

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