Authorised and Regulated by the Solicitors Regulations Authority SRA No 496324. (http://www.sra.org.uk) Contact us
Lease Extension
Are you a Tenant of a Leasehold property seeking to extend the term of your Lease or amend a defect on your Lease?
Whether it is extending the term of your Lease to make your flat a more attractive sale prospect or dealing with any corrections you are looking to make on the Lease
To extend the lease term, here are the stages involved to note:
First STAGE
- Eligibility check
- Initial checks
- Serving of Notice
- Compliance with Landlord requirements
- Consent of Lender, if required
Second Stage
- Dealing with the draft Deed of Variation
- Completion of the Deed
- Registration of the Deed
MATTERS TO CONSIDER
Extracts from Leasehold Reform Notice
https://www.lawsociety.org.uk/policy-campaigns/articles/leasehold-reform/
The government is planning to make the leasehold system fairer for leaseholders. Over several years, it appears that some parts of the residential leasehold system have become unfair for some of those who own flats, particularly some newly built flats.
Some leaseholders face high and escalating ground rents, making it harder for them to sell or re-mortgage their homes.
It also seems that some charges being requested under leases may be excessively high, or are being imposed for permissions and administration fees where they may not properly be required.
Enfranchising or extending a lease of a house or of a flat can be expensive and complex.
Issues that can be unfair include:
- the method and frequency of ground rent increases
- high or unclear service charges and one-off bills
- managing agents charging unexpected fees for permissions or consents
- the costs of and delays in providing management information
Law Society Excellence Awards, 2020
Kem Masinbo-Amobi, KMA Solicitors is one of only two law firms to have been Highly Commended in the category of Sole Practioner of the year.
With regulatory, legislative and financial management challenges, this award celebrates passionate and pioneering sole practitioners who stay on top of the ever-changing industry.
“Kem Masinbo-Amobi is an accomplished solicitor who has shown creative approaches to running a successful business with an exceptional level of client care”
