Lease Extensions & Freehold Purchases

Leasehold Enfranchisement / Freehold Purchase

Extending Your Lease

Once your lease falls below 90 years, it is wise to investigate an extension to protect your property value and avoid costs increasing in the future. If you lease falls below 80 years, your property may no longer be mortgageable. The price of the premium also increases significantly, due to an additional price to be paid known as “marriage value”. Jayman Professional Department offer specific advice to leaseholders & freeholders regarding lease extension and calculating the price of the premium to be paid. A legal process exists for this process involving serving a specific notice which can assist in any amicable negotiation with the other party.

Fees

Leaseholders will be responsible for the Landlord’s reasonable fees associated with the transaction. There are fees for the freeholder and leaseholder and typically these add to up to around £5,000, to include Solicitors & RICS Valuers fees. We can recommend a solicitor if required.

Unsure what to do? Contact Jayman Professional Department: