Leasehold Extension - Valuation
An outline of the valuation principles to determine the price for extending a lease of a flat under the Leasehold Reform Housing and Urban Development Act 1993.
The following applies only if you have formally agreed a lease extension with the landlord. There are strict time lines set out in the law that each party must comply with.
If a new lease has not been entered into within 2 months of the agreement or Tribunal decision, either party can make an application to the County Court for an order to deal with the conclusion of the lease extension.
This application must be made within 4 months of the date of the agreement or the decision of the Tribunal.
More information you might find useful:
- Lease Extension – Getting Started
- Application to the First-tier Tribunal (Property Chamber)
- More Frequently Asked Questions on Lease Extension
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