Lease Extension

We all leave things till the last minute, but taking the time to extend your lease can help you avoid problems.

Lease extensions - legal advice

From Christmas cards to car insurance, we all leave things till the last minute. As long as the cards arrive in time for the big day all’s well. Leaving the car insurance till the last minute can cost money because we don’t have time to look around for the best deal. In our opinion it is best to extend a lease while there is still 85-95 years remaining, increasing the value of your leasehold property.

Why do I need to extend my lease?

Letting the length of your lease drop too low can seriously affect the value of your home
The longer you leave it, the more it is likely to cost you to extend your lease
Estate agents will tell you it is more difficult to sell a leasehold property with less than 90 years remaining
Mortgage companies can refuse to lend on a shorter lease
A shorter lease is likely to be used by buyers as a tool to negotiate a lower sale price.

Very informative all the time, clear instructions and a very fast result. A pleasure to work with. Highly recommend.

How we can help you

When you’re extending your lease, you’ll want all the legal formalities taken care of as quickly as possible. Lease extension can be a complex and expensive process, but it will significantly increase the value of your leasehold property. You’ll find our Residential Property Team approachable and easy to talk to. We’ll explain everything clearly and keep you informed of what’s happening.

Key people

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Partner

Jane Doe

Partner

Jane Doe

Partner

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Frequently asked questions

The answers to many of your questions can be found here, please get in touch for further information.

I have been told my property has development potential. What do I do?

If you’ve been contacted by a developer or a land promoter regarding a potential development to your property, you may wish to consider granting an option agreement or a promotion agreement. An option agreement is made between the landowner and the developer, where it is intended that the developer will apply for planning permission and requires an option to buy the property. A land promotion agreement is used where a developer agrees to apply for planning permission and will market the property for sale on the open market once planning permission has been obtained. This is usually in return for a proportion of the net sale proceeds. The law on this is very complex and you will need specialist advice.

Contact us today

If you’d like to meet one of our experts for a confidential, no obligation chat, please get in touch.

Telephone

0800 013 1165

Office locations
Bishop’s Stortford
Brentwood
Cambridge
Chelmsford
North Herts
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All legal services provided by Tees are regulated by the Solicitors Regulation Authority. Tees is a trading name of Stanley Tee LLP is authorised and regulated by the Solicitors Regulation Authority (SRA Number 464615) and is registered in England and Wales number OC327874.

All financial services provided by Tees are regulated by the Financial Conduct Authority. Tees and Tees Wealth are trading names of Tees Financial Limited which is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales number 4342506. Registered office address Tees House, 95 London Road, Bishop’s Stortford CM23 3GW.

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