New Year legal health check
THB Solicitors urges families to start the New Year with a legal health check...- 20 December 2024
Whether by way of voluntary agreement or via the statutory route laid down by the Leasehold Reform Housing and Urban Development Act 1993 our specialist team have a wealth of experience dealing with lease extensions from the point of view of both the landlord and the tenant.
If by way of agreement, any terms can be negotiated. Our team often act for big blocks of flats, where all the leaseholders are wishing to extend their leases at the same time.
However, under statute a tenant is able to extend their lease for an additional 90 years, at a peppercorn rent. The process involves serving formal notice on the landlord expressing a wish to extend your lease. The landlord then, within two months, has an opportunity to respond by serving a counter-notice. The usual area of dispute relates to the premium you propose to pay for the lease extension and that which the landlord believes you should pay. Usually terms can be negotiated failing which an application has to be made to the First-tier Tribunal. If your landlord is absent or they fail to serve a counter notice an application has to be made to the County Court for a vesting order.
Our team are able to take you through the process making it as uncomplicated a possible.
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