Property lease agreement is essentially an agreement that you can live on the premises for a certain amount of time (until your lease expires). Property leases tend to range from 99 to 999 years and it is recommended that you extend your lease before it has less than 60 years remaining. This is because the longer you wait, the more expensive it becomes to extend your lease.
There are several factors that may determine the cost of you extending your lease by your head lessor or freeholder. It depends on factors such as the annual ground rent, how many years you have left on your lease and the improvements made by the leaseholder. The process of extending you lease has several steps so it is best to seek legal advice as early as possible. We shall take you through the steps and discuss your options.
At Bloomsbury Law, we have years of experience in the field and look forward to discussing your lease and the options we can provide you advice with.
What do I do next?
Contact us online or speak to one of our experienced property lawyers on 0207 998 7777 for a free initial consultation. With our vast experience in the field, our team will work with you to ensure this process runs as smooth as possible. All information you provide us with is treated with the utmost confidentiality.
We will contact you no later than the next working day to arrange a meeting at our offices in London W1 to advise on the agreement.