Providing security and flexibility to you as a leaseholder, allowing you to continue living in your home without the risk of lease expiry.
What is a lease extension?
A lease extension is a legal process through which the lease term of a property, typically a leasehold property, is extended beyond its original expiration date. Leasehold properties are typically owned for a specific period, often several decades, and when the lease term approaches its end, it can have implications for the property’s value and the owner’s rights.
Leases are granted for a fixed term, for example 99 or 125 years. The value of your leasehold property will start to decline as the term creeps towards having 80 years left, while the costs of extending your lease will increase when the term drops below 80 years.
In order to guarantee a mortgage on a leasehold property, lenders require your leasehold property to have a minimum term associated with it.
Two ways of getting a lease extension
Using a statutory procedure
Secure your property’s future and explore your lease extension options with our expert Residential Property Team, who can assist you on every aspect of extending your lease.
Vicky Lee is a credit to your business, she was extremely professional, efficient and understanding throughout the process of selling my second property. I decided to use GL again because of Vicky and the fantastic service she provides.
Client of Vicky Lee
Gardner Leader were absolutely fantastic with us during our home purchase. We were really grateful for their attention to detail and making sure we were aware of every step along the home buying process.
Client of Sheyi Lawale
For all your legal needs choose Gardner Leader - just do it!
Client of Michelle Challis
I cannot recommend GL highly enough. I will not select a single individual as everyone that I have had dealings with have been superb. Always helpful and willing. 100% recommended.