Lease Extension (Extend your lease) / Collective Enfranchisement (Buy your freehold)
What and Why?
The 1967 Leasehold Reform Act entitled those with a Leasehold property to either extend their lease or acquire the freehold. The 1993 Leasehold Reform, Housing & Urban Development Act, which was formerly known as the Commonhold & Leasehold Reform Act and amended in 2002, allowed most leaseholders a right to a 90-year extension of their lease as well as reducing the ground rents to a “peppercorn” or for all leaseholders in a building to collectively pool their resources to acquire the freehold.
Foundation Surveyors are expert Lease Extension Surveyors and have represented both leaseholders and freeholders on transactions involving lease extensions as well as collective enfranchisement for numerous years.
Foundation Lease Extension Surveyors in London work independently on your behalf with full understanding of all pertinent legislation. We will explain everything to you in detail so that you have a complete understanding of the legislation and have full knowledge of your rights under the law. You can count on us to protect those rights at every stage of the process, whether you’re extending your lease or buying your freehold.
If you are a Freeholder and have received either a S13 or S42 Notice, or you are a leaseholder looking to serve an Initial Notice, you need expert advice to assist with the valuation. Whether you choose to go the informal or statutory route, we will do our utmost to ensure you get the best outcome. We’ve built a track record of successfully negotiating on behalf of many clients over the years regarding these matters, obtaining the best possible financial outcomes for them all. We invite you to contact us for a free initial consultation.