DIY leasehold extension? - By: Tim Bishop

You know that you are entitled to extend your lease; you have owned your residential flat for 2 years on a lease that was originally granted for 21 years or more. This article looks at the process of extending your lease.

Great, so far. It helps that you feel quite good with figures and your confidence is high. Lots of your friends have tackled all kinds of much bigger projects without the expense of employing a legal guy. Some say that they have relished the challenge. So this shouldn't be too big a hassle.

Weekends, evenings, you begin to scour the internet, looking for every possible bit of advice. You find plenty and it's great. You feel really in control now. Lease extension looks cool.

It becomes a kind of passion. The internet is a great tool for this kind of thing; you can get so much information. The process of extending your leasehold doesn't sound that complex. From what you read, to extend your lease you just need to keep a clear head, write things down and document everything in a file. You're a nice amenable sort of chap too, the sort that can get on with anyone and settle disputes easily. A smile, offer of a drink in the pub and most things can be done without stress.

DIY, that's the job.

Then you discover about valuations, marriage value, tenant rights, landlord responsibilities and various regulations; all relevant information, when doing a leasehold extension. Not to mention the highly rigid procedure and timetable involved in lease extension. You skip over the bits about needing a specialist solicitor. No way, I could start my own business on this, DIY Leasehold Extension!

There might for some information that you read about the Leasehold Valuation Tribunal, but this might be for others, not you. Play Mr Nice Guy and your extended lease will be yours in a few weeks. Not so; it is still a good idea to use the internet to gain a basic undertanding and find out some relevant facts. However, it is the best advice to get a good and specialist solicitor who really understands or complications of leasehold extension - and not trying a DIY leasehold extension.

After all, you might be prepared, but are you unarmed?

About the Author

Bonallack & Bishop are a firm of specialist leasehold solicitors who can help you to extend your lease. If you want advice on extending your lease then contact them today. Senior partner Tim Bishop is responsible for all major strategic decisions, seeing himself as a businessman who owns a law firm. Tim has expanded the firm by 1000% in 12 years and has plans for its continued development.

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