The experience of negotiating a lease extension can be lengthy. It is one of those 'grey' areas, that looks very straightforward on paper, but in reality is very complex and can easily take much longer than anticipated. In some cases it can take up to 6 months, perhaps even longer. If you have eally skilled, and perhaps more to the point, experienced, lease extension solicitors, then you can have confidence that the process involved in extending a lease will be as straightforward as possible.
If you view this differently, say you undertake a lease extension and your regular solicitor has little or no experience in this area, then how confident are you really going to feel? Will you feel that they are fully aware of what needs to be done and will meet all deadlines with ease, or will you be even just a tad nervous?
Specialist lease extension solicitors will have plenty of experience in this complex field understand all the issues involved in liaising with freeholders. They will also be able to ensure that the freeholder is aware that they are experienced in the field of freehold purchase. Freeholders are people at the end of the day and you have some good freeholders who are really nice and fair people and others who seem determined not to assist. You will want to use a solicitor who has the right set of skills who can deal with your case in the most effective manner possible!
The process of extending a lease will also require you to have a solicitor who is able to negotiate effectively. This is not about being 'bullish' or about shouting, it is about ensuring that your rights as the leaseholder are met, without the freeholder feeling as if they have been screwed down in terms of having to accept a paltry sum for the premium. Your solicitor will work very closely with your surveyor to make sure that their expertises are complimenting each other.
Remember that the process involved in extending the lease can take up to 6 months. The better the solicitor the quicker they should be able to conclude matters, so it is always worth making sure that you appoint those with the relevant experience and who really know how lease extensions work and are keen to work in the field of leasehold extensions!
It is also worth remembering that the lease extension will put value on your flat, so you need to do it right; so ensure you get the professional support you require. You will probably be surprised to find that appointing specialist lease extension solicitors may not be any more expensive than instructing solicitors who rarely deal with this area of law. But whatever you do, do not skip on your costs as it could cause you damage in the future!
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Do you need
Lease Extension Solicitors? Bonallack & Bishop are specialists in
extending a lease. Senior Partner Tim Bishop is responsible for all major strategic decisions at the firm, which he has grown by 1000% in 13 years. Tim sees himself as a businessman who owns a law firm.
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