Residential properties are increasingly built and then sold on a leasehold basis, rather than freehold or commonhold. This means that when you buy your home, you are in fact purchasing the right to live there for a prescribed period while the land continues to be owned by another party (the freeholder).
How we can help
Extending your lease entitles you as the leaseholder to live in the property for an extended length of time. The majority of leases will last for a considerable period – it is common for a lease on a modern flat to run for between 99 and 125 years, while the lease on a house can be extended for up to 999 years.
Timing is critical when it comes to extending your lease – as your lease term shortens the costs associated with extending can increase substantially. Our residential property solicitors can guide you on whether your interests would be best served by extending your lease now.
Contact our Lease Extensions Solicitors, Middlesex
The specialist residential property lawyers at The Sethi Partnership Solicitors regularly advise clients looking to exercise their right to a statutory lease extension, protecting the value and marketability of their property. We can provide reliable legal support to ensure that you are clear about your options and are on hand to answer any questions you may have as part of our uniquely client-focused service.