Lease extension and collective enfranchisement

By Mon 24 Apr, 2017

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:

Meet the team

Mustafa Sidki

Solicitor

Robert Twining

Partner & Team Leader