FormLL connects you with specialist leasehold solicitors in England and Wales. Whether you need a lease extension, want to purchase the freehold of your building, have a ground rent dispute or need advice following the Leasehold and Freehold Reform Act 2024, call for a free assessment.
Leasehold issue in England or Wales? Call us for a free assessment.
As a leasehold property ages, the shorter the remaining lease the lower the value and the harder it becomes to sell or remortgage. Extending the lease protects and increases the value of your property in England and Wales.
Under the Leasehold and Freehold Reform Act 2024, qualifying leaseholders now have the right to extend their lease by 990 years at a peppercorn (nil) ground rent. The Act abolished the previous requirement to have owned the property for 2 years before claiming a lease extension. If your lease is under 85 years call now — the premium for a lease extension increases significantly as the lease falls below 80 years.
Leaseholders in a block of flats in England and Wales have the right to collectively purchase the freehold of their building. To qualify at least half the qualifying leaseholders in the building must participate. Owning the freehold removes the dependency on a freeholder, gives leaseholders control over the management of the building, and allows lease extensions to be granted at no premium in the future.
The Leasehold Reform (Ground Rent) Act 2022 banned new ground rents above a peppercorn for most new leases from 30 June 2022. However millions of existing leaseholders in England and Wales still hold leases with ground rents — some with clauses that double every 10 or 25 years. These escalating ground rents can make properties difficult to sell and mortgage. Call for specialist advice on ground rent disputes.
Most mortgage lenders in England and Wales will not lend against a leasehold property where the lease has fewer than 70 years remaining at the end of the mortgage term. A short lease can make a property unsaleable or unmortgageable without first extending it. If a short lease is preventing a sale or remortgage call immediately.
The Leasehold and Freehold Reform Act 2024 has significantly extended leaseholders' rights in England and Wales. If you have previously been told you do not qualify for a lease extension it is worth taking fresh advice in light of the new legislation. Call .
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