How Long Does Extending A Lease Actually Take?

You may read that extending a lease can be done within a 6 month time period, or that it is potentially possible to extend your lease within a designated time scale. However the truth is there is no definitive times scale for your lease extension - it merely depends on how quickly everyone completes their taks and whether or not it is a straightforward case.

On the positive side to this, if the freeholder does not have any issues with the extension and merely wants to not to have to deal with your lease coming to an end, then in theory you could get the extension done and dusted within 3-4 months.

Conversely however, this situation can completely go the other way. You may find that the freeholder does not want to award an extension and will therefore delay as much as possible. Many cases end up at the Leasehold Valuation Tribunal over a dispute about the amount payable to the landlord. This can drastically delay your extension.

One important fact to remember is that you can sell your flat/apartment having submitted your Tenant's Notice to the landlord (and it is registered with the Land Registry). This does mean that those people purchasing the flat/apartment can have a lease extension coming their way without having to satisfy the 2 year ownership qualification.

If you are thinking of extending a lease, then always think about being flexible, if your solicitor aims that the process will be completed in 6 months, then aim for 8 months and you will not be disappointed.

It is really important to extend your lease in the correct way, it should be legally binding and you should be receiving a fair deal. To complete this process sucessfully, you will need to take on a specialist solicitor/surveyor and you will have to negotiate with the freeholder.

There are two main reasons for taking on a specialist lease extension solicitor and surveyor. Firstly, if they are specialists in the subject they are less likely to cause you any delays in the process. Secondly, specialists can help you avoid missing technicalities which can cause your extension to fail.

By extending your lease you have the potential to significantly increase the value of your property. With this thought in mind, ride out the delays and see the end picture as being worth it. Nevertheless, you can help prevent delays by using experienced professional services.