There comes a time when every leaseholder should extend their lease, whether they intend to remain living in the property or sell it.
But because extending your lease costs more the longer you wait to do it, determining the right time to extend is essential. Similarly, due to the Leasehold Reform Act 1993, it can be challenging for freeholders to be adequately compensated without leading to long and often expensive drawn out disputes.
Thanks to the forward-thinking RICS Chartered Surveyors at Novello, leasehold extensions and freehold valuations can be made straightforward.
So, why hire a Chartered Surveyor?
At Novello, we can provide accurate and timely valuations for leaseholders who wish to extend their lease. Check out our Lease Extensions page for more information, but if your property has less than 83 years remaining on its lease, you should seriously consider extending.
Alternatively, you could group together with your fellow leaseholders and take control of the entire building.
You’re entitled to by law.
The process of extending your lease or taking over the freehold property (a process known as collective enfranchisement) can be long, confusing, and – if we’re being honest – a tedious.
Unless you let our friendly surveyors do the hard work for you.
Call us to learn more about lease extensions and collective enfranchisement.
By law, you can’t deny your leaseholders their right to extend their lease. And, you can’t charge them through the roof to do it. Nonetheless, you deserve to be adequately compensated for granting the lease extension or selling the freehold, meaning you’ll need an accurate valuation.
At Novello, our RICS Chartered Surveyors can value the freehold or the lease extension to confirm a fair value and then negotiate with the leaseholder on your behalf.
We’re a modern team of surveyors that’s happy to have a no-obligation chat over the phone, by email or via live chat. If you’d like to dig deeper into our offering beforehand, we encourage you to browse our following service pages:
Prefer to just get an instant upfront quote before getting in touch? Visit our Quotation page.