We are hiring now!

Great opportunities in Cheshire.

Find out more

Residential Leasehold Property - extension of the lease term

Residential Leasehold Property – extension of the lease term

Obtaining an extension in years to the term of your lease can potentially be expensive.  In addition to paying the Landlord a premium for the extension of the term, you will also have to pay their legal fees, disbursements and valuer’s fees together with your own legal fees.

Obtaining an extension to the lease term is something which should not be put off, especially if you are considering selling your leasehold property it is advantageous to obtain the extension before marketing the property.

Most buyers will wish to see a lease term of at least 90-95 years.  The lower the number of years left on the term the higher the cost of the premium to be paid to the Landlord.  If the term is shorter than 80 years the premium is considerably more.

If you wish to discuss extending the term of years on your lease, please contact Pauline Eaves on 01606 74301