Skip to main content Skip to footer

Lease Extensions

Buying a leasehold rather than a freehold or commonhold property means you are buying the rights to live in a property for a set length of time. Leasehold houses typically have a lease term of 999 years, whereas modern flats tend to have a lease period of 99 to 125 years.

Whilst these average lease periods may seem lengthy, it is important to note that as the length of the term decreases so does the value of the property, resulting in it becoming what is known as a “wasting asset”. In addition, lenders of leasehold properties often require a lease which is the length of the mortgage plus 35 years, meaning that a lease extension might be worth doing once the length of the lease falls below 100 years.

If you wish to extend the lease, then you will need to check that you are able to do so. For example, you usually need to have owned the property for at least two years before you can request a lease extension.

At Rotheras we specialise in lease extensions and can advise you on whether extending the current lease on your property is a worthwhile investment.

Why instruct Rotheras on a Residential Leasehold Extension?

Our team can advise on whether a lease extension is worth doing in your situation by considering the length of lease remaining and obtaining a valuation of the property.

We can help leaseholders negotiate the lease extension with the freeholder or alternatively advise on serving a section 42 notice in cases where you cannot reach an agreement with the freeholder regarding extending the lease.

Our team can also advise on ground rent provisions, especially where your lease contains an escalating ground rent clause which appears unfair and costly and which requires variation.

We can advise you if there are less than 80 years remaining on the lease and “marriage value” needs to be considered.

Our dispute resolution team is on hand to help in situations where you have failed to agree on the landlord’s premium with the freeholder and you need to apply to the Leasehold Valuation Tribunal.

Contact our Commercial Property Team

Send us a message

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

“We’re interested in the way your business operates”

Tom Redgate
Head of Commercial Property

If you’re happy then we’re happy too.

4.8 165 reviews

Posted 27 January 2020

This was my first experience using a solicitor, something I felt quite daunted about. Rothera Sharp (Greg and Petra) put me at ease and were very helpful.

Mollie Fish

Posted 27 January 2020

Last year I experienced a car accident, as a front seat passenger. I put forward a personal injury claim with Rothera Sharp. From start to finish, my claim has been dealt with efficiently and professionally, and I have always felt my best interests were considered. All communications were made via letter or email to inform me of all further updates. My claim has now come to an end and I am very happy with the overall outcome. I would recommend Rothera Sharp for their service.

Samya Green

Posted 4 February 2020

We cannot recommend Chris Powell of Rothera Sharp more highly. Mr Powell demonstrated the upmost professionalism with a high level of knowledge of the area for which he was representing us. Anyone needing representation/advice regarding the area of haulage will find that Chris Powell and Rothera Sharp are the best choice.

Karen Walker

Posted 4 February 2020

Claim dealt with efficiently and to a satisfactory conclusion. Wayne Vickers visited me at home initially and explained everything thoroughly. Professional service throughout. Recommended

Clare Stevens

Contact our Commercial Property Team
Commercial Property Team
Antony Fyson

Antony Fyson

a.fyson@rotheras.co.uk

Antony Fyson is a Partner and heads up the Long Eaton branch Office of Rotheras Solicitors and offers clients a wealth of expertise in Commercial Property and Conveyancing matters.

Tom Redgate

Tom Redgate

t.redgate@rotheras.co.uk

Tom Redgate is a Commercial Property specialist at Nottingham-based law firm Rotheras and is located at our Lace Market office in the heart of Nottingham City Centre.

Fiona Moore

Fiona Moore

f.moore@rotheras.co.uk

Fiona Moore is a commercial property and residential property specialist at Nottingham-based law firm Rotheras Solicitors and is located at our Lace Market office in the heart of Nottingham City Centre.

Luke Smith

Luke Smith

l.smith@rotheras.co.uk

Luke can advise clients on a wide range of commercial and residential property matters.

Jasmine Jackson

Jasmine Jackson

j.jackson@rotheras.co.uk

Jasmine Jackson is a trainee Solicitor in the Commercial Property department at Rotheras and is based at our Lace Market Office.

Emily Kevan

Emily Kevan

e.kevan@rotheras.co.uk

Emily Kevan is a residential property and commercial property paralegal at Rotheras. She is based at our Lace Market office in the heart of Nottingham city centre.

News
Webinar 3 Transport Industry

Webinar recording: Covid-19 Essential Updates for the Transport Industry

Webinar recap: watch the recording of our recent webinar that details the impact of COVID-19 on the transport industry, with practical advice on how to navigate these issues.

Cycling during lockdown – be wary of drivers flouting speed limits due to empty roads

I was very concerned to read that the Police are reporting a significant increase in the number of drivers who are using the quieter roads during the UK wide lockdown as an opportunity to speed. Whilst out on my daily walk yesterday, I noticed several cars travelling well in excess of the 30-mph speed limit […]

Find out how Rotheras can help you