If you have owned your flat for at least two years, and satisfy an ownership test, it is likely you will have the right to buy a new lease, at a fair price, on your property.
If you meet the criteria, you will be able to buy a new lease which will expire 90 years after your current lease expires. You will have to pay the landlord's costs incurred during the process.
To begin the lease extension process you must serve us with a Section 42 notice which is a confirmation of the premium amount you are willing to pay to progress with the lease extension.
Address: South Area Service Centre, 137 Lupus Street, London, SW1V 3HE
For more information, please contact us:
Call: 0800 358 3783
Once we receive your Section 42 notice, we instruct a valuer to calculate the premium. We recommend you instruct a solicitor to act for you as our Leasehold Operations team are unable to advise on the valuation of your property.
After receiving a valuation, we provide you or your appointed solicitor with our Section 45 notice which either accepts or counters the terms of your notice.
Please note that you are required to complete your lease extension within six months from the date of our Section 45 Notice. Should this matter not complete within six months, it will be withdrawn and you will be unable to re-apply until 12 months have elapsed from the date of withdrawal.
- £200 administrative fee
- £350 valuation fee
- £102 lease plan fee
- the solicitor’s actual costs, which are set at £1,280 but may increase if the matter becomes protracted.