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Property Lease Extension

As experts in lease extensions, we are able to guide you through the process. Ultimately if necessary representing you at the Leasehold Valuation Tribunal (LVT). We have a wealth of experience assisting leaseholders, intermediate leaseholders and shareholders of a freehold.

A leaseholder will qualify for a lease extension if:

  • Property ownership extends beyond two years. 
  • The original property lease was granted for a term in excess of 21 years. 

Whilst this is not an exhaustive list, these are major points for consideration, however your solicitors will be able to advise further.

It is important to bear in mind that the cost of acquiring a lease extension increases exponentially when the term falls below 80 years due to the inclusion of marriage value. A lease being extended prior to this time will incur no marriage fee.  

Should you be considering the purchase of a leasehold property it may still possible to arrange for the existing owner to serve a notice, the benefit of which can be assigned to you prior to completion. Attempting to attain a loan against a property with a short lease length can be problematic, and in turn can make both buying and selling a property far more difficult.

Click on this lease extension advice document which sets out the important points for consideration.  A statutory lease extension claim grants an additional 90 years at a nil ground rent.  It is of course possible to deal with a lease extension on a voluntary basis however we would recommend that the statutory route is followed.

To find out how we can help in effectively extending your lease, or any other services provided by Western Permanent Property Management Cardiff, Contact us today or telephone 029 2023 5151.