Ask The Experts

If you are planning on selling your leasehold property but a short lease is limiting your sales value or the amount of people willing to view, you can extend your own lease or confirm you are selling with the benefit of a ‘deed of assignment’. This means that the new owners do not need to wait for two years of ownership before applying to the freeholder to obtain a statutory lease extension.

We fully appreciate a lease extension may feel like an unnecessary outlay however with the right financial advice it will result in your property being more valuable when you come to sell it. We are able to link you with our financial services director, who will talk you through how you can finance this extension.

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A section 42 Notice (also known as the Tenant's Notice) is served on the landlord/freeholder which starts the statutory lease extension process. You can serve your own section 42 notice, however most people instruct a solicitor to do it for them. Before starting the process you should check your eligibility as you may not be eligible to formally extend your lease..