Every leaseholder in England and Wales has a statutory right to extend their lease provided they meet the requirements, which are:
Lease extension solicitor Callie Tuplin discusses what makes you a qualifying leaseholder.
Qualifying Leaseholder
To be a qualifying leaseholder you must own a long lease and have owned it for the past two years.
A long lease is:
The majority of leaseholders in England in Wales wishing to extend their lease will satisfy the criteria by the term as nearly all residential leases (flats and maisonettes) have a term in excess of 21 years. Therefore, provided you have owned the property for the past two years you will be able to proceed provided you have a competent Landlord. Even if you are a qualifying tenant, if your landlord is a charitable housing trust and the property is provided as part of the charity’s functions or the leaseholder is a commercial or business tenant you do not have the right to extend under the provisions of the act.
Qualifying Building
If you are a Qualifying Tenant under the provisions above, unfortunately there are some properties which are completely excluded from the right to a lease extension which are as follows:
Unfortunately, therefore, if your property is within on of the above buildings, you will not be able to proceed with a statutory lease extension.
Ready to proceed
If you meet the above criteria in relation to being a qualifying tenant within a qualifying building, then you are good to go and can start the process of a statutory lease extension.
Contact Holmes & Hills lease extension specialist Callie Tuplin today to discuss extending your lease, whichever route you are taking on 01206593990 or email cnt@holmes-hills.co.uk.
Disclaimer
The content of this article is provided for general information only. It does not constitute legal or other professional advice. The information given in this article is correct at the date of publication.
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