Extending A Lease ' What Are The Timescales? - By: Tim Bishop

You may read that extending a lease can be done within a 6 month time period, or that it is potentially possible to extend your lease within a designated time scale. However the truth is there is no definitive times scale for your lease extension - it merely depends on how quickly everyone completes their taks and whether or not it is a straightforward case.

On the positive side to this, if the freeholder does not have any issues with the extension and merely wants to not to have to deal with your lease coming to an end, then in theory you could get the extension done and dusted within 3-4 months.

Conversely however, this situation can completely go the other way. If the freeholder is not keen on the extension, yet doesn't have an adequate reason to deny you the right, then it is likely that they will drag their feet. Many cases end up at the Leasehold Valuation Tribunal over a dispute about the amount payable to the landlord. This can drastically delay your extension.

One important fact to remember is that you can sell your flat/apartment having submitted your Tenant's Notice to the landlord (and it is registered with the Land Registry). This does mean that those people purchasing the flat/apartment can have a lease extension coming their way without having to satisfy the 2 year ownership qualification.

If you are thinking of extending a lease, then always think about being flexible, if your solicitor aims that the process will be completed in 6 months, then aim for 8 months and you will not be disappointed.

It is really important to extend your lease in the correct way, it should be legally binding and you should be receiving a fair deal. In order to achieve this, you will need to use the services of a specialist solicitor, surveyor and you should expect to have to negotiate with your landlord.

There are two main reasons for taking on a specialist lease extension solicitor and surveyor. Firstly, if they are specialists in the subject they are less likely to cause you any delays in the process. Secondly, specialists can help you avoid missing technicalities which can cause your extension to fail.

In getting a lease extension, the value of your property will increase. Having this in the forefront of your mind, just be patient and see the end result as being worth it. Nevertheless, you can help prevent delays by using experienced professional services.

About the Author

If you're looking for Solicitors to help you extend your lease, contact Bonallack and Bishop, solicitors expert in advising on extending a lease. Tim Bishop is senior partner at the firm, responsible for all decisions. He has grown the firm by 1000% in 13 years.

Article Directory Source: http://www.articlerich.com/profile/Tim-Bishop/62652

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