Quiz - how well do you understand your lease?
Understand the key things you should know about your lease. If you are a purchaser, this can help make sure your solicitor has covered all of these points and explained them clearly to you.
Under the Leasehold Reform Act 1967 you may be entitled to an extension of 50 years. There is no premium payable for a lease extension of a house granted under the Act, however, at the start of the new 50 year lease the ground rent may increase to a modern rent. Advice should be sought on what the new ground rent may be prior to proceeding with the extension.
Buying the freehold can be a difficult process. We recommend you get professional help from a solicitor and surveyor with experience in this area.
More information you might find useful:
- Houses – Qualification and Valuation
- More Frequently Asked Questions on Houses – Enfranchisement and Lease Extension
Still not found the answer?
Contact LEASE to have your enquiry dealt with by one of our experienced advisers