Extend your Lease
Valuations & negotiation services
Myleasehold can help you understand the process, provide expert advice, and accurately value your property for the purpose of a lease extension.
Whether you are a leaseholder wanting to make an offer to your Landlord, or a freeholder who has received an offer from your Tenant; one of our comprehensive lease extension valuations will help you understand the issues and make a well-informed decision.
In the circumstances we consider appropriate, typically in cases of long lease flats or for lower value properties, we can produce a thorough, comprehensive report along with a series of valuations without the need of inspecting your property. We can do this by establishing all we need to know via access to professional property databases, reviewing a copy of the lease and land registry documents to the property.
Our report sets out a review of the property including its location and description. The lease is reviewed, including the unexpired term and the ground rent obligations under the lease are summarised.
We value the property on the assumption of it having a long, extended lease, and recommend the premium to be offered in a formal section 42 Notice of Claim or an informal offer to the landlord plus a recommended price to pay for the lease extension or, if more appropriate a best-case, worst-case scenario; explaining your options.
This service is a recommended option if you want a more detailed analysis without the added expense of a site visit.
Following a more traditional approach to property valuation, if your property is in the ‘Prime’ Central London area or is of a higher value, or have a short lease, we often recommend a site visit. From our experience we need to inspect the property to provide the best advice on value.
During our site visit we will measure the property to establish the gross internal floor area (GIA), which complements our full review of the lease and associated documentation. From there we produce our report with valuations including our recommendation of the premium to be offered in a formal Section 42 Notice of Claim or an informal offer to the landlord together with a recomnded price to pay for the lease extension or, if more appropriate, a best-case, worst-case scenario, explaining your options.
This service is a recommended option dependent on a property’s value, lease term or location.
Negotiations to agree the premium to be paid for your lease extension are usually conducted between the surveyor’s of the Freeholder (lanldlord) and Leaseholder (lessee).
We we represent our clients during the negotiation stage, we strive to achieve the best outcome for your case.
Please feel free to call us today to discuss your needs; we offer a free initial consultation. Depending on your circumstances we will recommend the services we think most suitable, and you can decide which is best for you.
We understand that the ‘legalese’ and industry-specific terminology can be confusing. If this section of our site leaves you wanting more information, please contact us today – or click on the instant chat widget at the bottom of this page! – and one of our customer service advisors will be happy to answer any questions you may have.