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If you own a leasehold flat, you may be considering purchasing the freehold or extending your lease. Both these options can increase the value of your property and can be particularly advisable if the term remaining on your lease is relatively low.
Enfranchisement is the process of purchasing the freehold together with your fellow flat owners and will allow you to extend your leases once the purchase has been completed. Alternatively, you can deal with your landlord to purchase a lease extension.
At Kingsfords, our expert enfranchisement and lease extension solicitors in Ashford, Cranbrook and Hythe can advise you of your options and help you decide which process might be the best for your situation. We have extensive experience in the complex area of leasehold property law.
As well as in-depth legal expertise, we provide an outstanding service to our clients. We work proactively to keep transactions on track and we will make sure you are updated as to progress throughout. Our leasehold solicitors are easily contactable and we are always happy to discuss any concerns you may have and answer your questions.
Our enfranchisement and lease extension services include the following:
- Collective enfranchisement or leasehold enfranchisement
- Voluntary lease extensions
- Statutory lease extensions
- Leasehold property disputes
Speak to our enfranchisement and lease extension solicitors in Kent today
Speak to one of our leasehold extension and leasehold enfranchisement solicitors at our offices in Ashford, Cranbrook or Hythe today by calling 01233 624545.
Alternatively, please fill in our enquiry form on the right hand side of the page to request a call back.
Our enfranchisement and lease extension expertise
Collective enfranchisement or leasehold enfranchisement
Collective enfranchisement, also referred to as leasehold enfranchisement, can be beneficial to flat owners. It refers to the process of purchasing the freehold and once you own this, you will be able to take over the management of your flats yourselves.
The biggest benefit is being able to grant lease extensions without the need to pay a premium. Once the term remaining on a lease falls below around 80 years, a property will generally be worth less than it would with a longer lease. Mortgage lenders can be reluctant to lend when leases have less than 80 years remaining and the cost to extend a lease will also increase as the remaining term becomes shorter.
If you are considering leasehold enfranchisement, it is important that the correct process is followed so that you can enforce your rights if necessary.
We can deal with the following matters on your behalf:
- Advise you as to eligibility, both in respect of yourself and other flat owners and in respect of the property
- Draft a collective franchise participation agreement for you and your fellow leaseholders to enter into, setting out how you will manage the process
- Represent you and your fellow freeholders in the collective enfranchisement process, including:
- Advising on the selection of a nominee purchaser
- Advising on how to decide on the right price to offer for the freehold, which will generally start with a formal valuation
- Drafting the notice to serve on the freeholder or landlord and making the formal offer to buy the freehold
- Receiving the landlord’s counter notice
- Negotiating with the landlord on your behalf
- Setting up a management company appointing you and your fellow leaseholders as members
- Where necessary, representing you at the First-tier Tribunal (Property Chamber) if it is not possible to agree on the price to be paid
- Drafting the documentation for the freehold purchase
- Arranging completion and registration of your ownership of the freehold with HM Land Registry
Voluntary lease extensions
If your landlord is prepared to extend your lease on an informal or voluntary basis, we can negotiate with them on your behalf and prepare the new lease for signature.
We will advise you on the potential terms, including the proposed new lease term, the ground rent, service charge provision and other conditions.
We will also advise you as to whether you might be able to secure a more favourable lease extension by using the formal or statutory route.
Statutory lease extensions
Under the Leasehold Reform Housing and Urban Development Act 1993, and the most recent Leasehold Reform Ground Rent Act 2022 flat owners generally have a right to extend their lease by 90 years and reduce the ground rent to nil, provided they are eligible.
We can discuss with you the benefits of doing this and deal with the formal legal process on your behalf. This includes serving a notice on the landlord and negotiating to try and agree on the premium to be paid.
It is important to follow the set legal procedure when dealing with a statutory lease extension. We will make sure that deadlines are met and that your rights and interests are observed.
Leasehold property disputes
We frequently deal with disputes arising between leasehold and freehold property owners as well as management company disputes.
We work to reduce conflict wherever possible and we are usually able to resolve disagreements without the need for litigation.
We can advise you of the strengths and weaknesses of your case and discuss with you the best course of action to try and secure your desired outcome.