Extending your lease or buying the freehold
The Leasehold Enfranchisement legislation is notoriously complex, with many pitfalls for both landlord and tenants. Our specialist Leasehold Enfranchisement team are experts at guiding our clients through the process from start to finish, ensuring that they achieve the right outcome.
Our team of leasehold enfranchisement specialists solicitors advise landlords, tenants and residents associations on these matters, from preliminary notices and service of the relevant notices though to our specialist advocates representing our clients at the First-Tier Tribunal.
Our specialist services include:
Qualifying leaseholders have the right to require their landlord to grant them a new lease of their flat for the remaining term of the lease plus an additional 90 years at a nil ground rent. This is a complex and involved process in not just negotiating the premium to be paid, but that also requires a detailed review of the terms of the current lease to establish whether they are suitable for both the landlord and the tenants, and to propose changes if they are
A majority of the qualifying leaseholders in a block of flats have the right to require their landlord to sell the freehold to them. This is a challenging and complex process that requires the claim to be structure correctly from the beginning as well as detailed advise on what property and rights should be included in the claim. Landlords will need specialist advice on the validity of the claim and what additional property the landlord may wish to insist that the leaseholders acquire.
The Right to Manage can be a more economical alternative to collective enfranchisement, as the leaseholders of a block of flats have the right to take over the management of their building from their landlord but without having to pay a purchase price. It is important to ensure that leaseholders and tenants receive expert advice on the process to ensure that the claim proceeds correctly and efficiently and that there is a smooth transition of the management from the landlord to the leaseholders.
A landlord who wishes to sell their interest in a block of flats must (subject to a limited number of exceptions) first offer to sell that interest to the tenants in the block before they can sell it to a third party. It is important that landlord and tenants obtain specialist advice because if the landlord does not make that offer they may be guilty of a criminal offence, and tenants may lose the opportunity to purchase the freehold on favourable terms.
In a process that has such significance for you, it’s important that you consult a lawyer who handles this kind of work regularly and who knows all the potential pitfalls and how to deal with them. The leasehold enfranchisement team at Morrisons Solicitors do, and that’s why we are members of ALEP (the Association of Leasehold Enfranchisement Practitioners)