London Lease Extensions
Lease Extensions in London by Woodward Chartered Surveyors.
If you are a qualifying leaseholder, with property in London, you will have the right to claim an extension of your existing lease of an additional 90 years at a “peppercorn” rent (effectively rent free).
Your statutory rights are contained in the Leasehold Reform Housing and Urban Development Act 1993 (as amended), and this legislation sets out the procedures which must be followed by a flat tenant to claim this right.
Here we explain briefly the procedures involved in exercising your statutory right to claim a lease extension.
Briefly, in order to compel a landlord to sell a lease extension the building must be:
- A residential structure, not a commercial building.
2. Outside the precinct of a cathedral.
3. Not owned by a charitable housing trust, National Trust or the Crown.
And the flat tenant must have:
- A lease of more than 21 years when granted.
2. Owned the lease for at least two years at the time of serving notice.
3. Not be a business or commercial tenant.
What does a Lease Extension Valuation by a Chartered Surveyor, for a property in London include? Find Out More.
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