Do you need a solicitor to extend your lease?
(Last Updated: 29/05/2024)
14/06/2023
148
5 min read
Key Takeaways
- You must use a solicitor (or licensed conveyancer) for certain parts of the formal or informal lease extension process
- If you don't meet the criteria for formal extension, you rely on your freeholder, or landlord, agreeing to an informal extension
- When a lease reduces to 80 years or less the value of the property will decrease and the extension premium will become more expensive
The Leasehold and Freehold Reform Act 2024 was passed on the 24th May 2024, but is not yet in effect and the date for this is not yet clear. We will update our content as and when the finalised legislation is published. Read more - Expected changes
Certain legal aspects of a lease extension requires a solicitor. However, there are stages that you can complete yourself if you are confident to do so. The challenge with handling part of the process without the help of a solicitor is that without the professional expertise required for complex transactions such as this, you are likely to make a mistake, such as serving an incorrectly drafted Section 42 Notice. If your notice is incorrect, it will be rejected and you will have to wait 12 months before you can try again.
Do I need a solicitor for an informal lease extension?
Even if you choose to do an informal lease extension rather than using the formal process, a solicitor, or licensed conveyancer must handle the deed of variation and your payment.
What do I need to do to extend my lease?
While the answer to: Do you need a solicitor to extend your lease? is simply yes, there are certain parts of the process you could do yourself, although we don't recommend taking this risk.
Check if you qualify for formal lease extension
You can check if you meet the eligibility criteria for a formal extension yourself, if not you can ask the freeholder if they'd be willing to extend informally.
Instruct your solicitor
Choose a lease extension specialist with good reviews and compare quotes to get a good price.
Fixed Fee | No Sale No Fee | Lease Extension Specialists
Get a lease extension valuation
Getting an independent valuation is a good way to determine a fair price for the premium. You'll need a current market valuation from a RICS surveyor. If you don't use a RICS member, you may end up paying more that the property is worth and the landlord could dispute your valuation and make you pay for another one.
RICS Surveyors | Fixed Fees | Same week availability | Access arranged
Negotiate your premium
This can be done yourself, but it will be easier with a solicitor which will often achieve a better result.
(If you can't agree on premium) Apply to Tribunal
If you are unable to compromise on a fair price for the extension, you can apply to tribunal to determine the premium.
Pay the premium
Your solicitor will handle the payment into your landlords account.
What could you do? | What does your solicitor need to do? |
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Can you use any old solicitor?
Lease extension work requires an understanding of the process and time frames. You should look to work with a lease extension solicitor who specialises in this area. We hand-select our panel solicitors for their expertise and quality service.
Free initial leasehold advice
Arrange a free consultation with one of our experienced conveyancing executives on:
- Lease extension.
- Purchasing the leasehold, freehold or share of freehold.
- Selling a leasehold property with a short lease.
- Extending the lease at the same time as you sell.
We specialise in lease extensions and have RICS valuers for the premium/negotiation and solicitors for the section 42 notice and formal or informal extension. Request a tailored quote for:
- RICS Lease Extension Valuation or L2 Homebuyers Survey.
- Serving of the section 42 notice or section 13 notice on the freeholder.
- Negotiation with the freeholder (with the support of your RICS valuer).
- Completion of the legal work, including deed of variation.
- Application to Tribunal to determine the premium.
- Vesting order for absent landlords.
Frequently Asked Questions
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Written by:
Andrew Boast
Andrew started his career in 2000 working within conveyancing solicitor firms and grew hands-on knowledge of a wide variety of conveyancing challenges and solutions. After helping in excess of 50,000 clients in his career, he uses all this experience within his article writing for SAM, mainstream media and his self published book How to Buy a House Without Killing Anyone.
Reviewed by:
Caragh Bailey
Caragh is an excellent writer and copy editor of books, news articles and editorials. She has written extensively for SAM for a variety of conveyancing, survey, property law and mortgage-related articles.
