Leasehold property owners should keep a close eye on the remaining length of their long-lease. Following house-price rises in recent years, the cost of extending a lease now increases significantly the shorter a lease becomes.
80 years and 70 years remaining on the lease are key trigger points. Any leaseholder approaching these should take action now.
The terms of a lease extension can sometimes be agreed informally. Alternatively, there is a statutory right to a lease extension even if the freeholder does not consent. Pro-Leagle offer a range of lease extension services with transparent pricing.