Lease extension and collective enfranchisement

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Lease Extension

Tenants of leasehold property can extend their lease terms at any time, subject to qualification, by virtue of the Leasehold Reform Housing & Urban Development Act 1993. The Act sets out the qualifying criteria and the formula for valuing the price payable to the landlord for extending the lease term.

A lease extension can also be achieved outside of the Act by negotiation with the landlord.

Points to note in relation to lease extensions:

Collective enfranchisement

This is the collective right of tenants of residential blocks of flats, subject to qualification, to purchase the landlord’s freehold title at a time of their choosing. The tenants collectively become their own landlord.

The benefits of becoming the landlord are:

However, there are certain stipulations that must be met in order to qualify:

How our lease extension and solicitors collective enfranchisement can help you:

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Robert Twining

Partner & Team Leader

… we have used John for every single property move over the past decade. They say that moving house is one of the most stressful things you can do in life next to divorce, death of a family and moving/changing jobs. I have to say John has been my saving grace in my house moves. He is kind, compassionate and goes massively above and beyond with his emotional support, advice and words of wisdom … we will always use Warners for all our legal matters going forward. The culture of your solicitors is above and beyond and this is exactly why we come back as we feel so comfortable using Warners for all our holistic legal needs.

E Ambrose