Q. Why should I extend my lease?
A. Your lease extension will get more
expensive as the years tick by. By extending it now, you are avoiding paying (far) more
in
the future.
Adding an additional 90 years and removing the ground rent will make your flat easier to
mortgage and sell.
Q. Who can extend their lease?
A. You are usually eligible for a
lease
extension if your flat:
(a) was originally leased for 21 or more years, (b) doesn’t have the Crown Estate or
National
Trust as the freeholder, (c) isn’t owned on a shared ownership scheme where you pay
rent,
(d) has been owned by you for more than two years.
Q. When should I extend my lease?
A. As soon as a lease drops below 80
years
it gets more expensive to extend and increasingly difficult to mortgage.
Anyone who has a lease of less than 100 years should have a lease extension on their
radar,
with a plan to extend before it gets to the 80-year mark or before they sell the
property.
If your ground rent is high then doing a lease extension will also remove this.
Q. Why should I use Homehold rather than a seperate
solicitor and valuer?
A. Why would you not? We're a
specialist
lease extension company with a valuation team in-house, and we own a firm of lease
extension solicitors. Compare our fixed fee to the cheapest lease extension solicitors
and surveyors: you'll see we're competively priced and by using us, you're not stuck
managing
two sets of professionals.
Q. Do you do lease extensions in London?
A. Our surveyors and solicitors have
extensive experience with lease extensions in London. We have worked with many of the
Central London landlords. If your freeholder is one of the London borough councils,
we’ve
almost certainly worked with them too.
Q. Can Homehold complete lease extensions nationwide?
A. Yes, we work across England and
Wales.
Whether your flat is in London, Cardiff or Plymouth or Newcastle, our solicitors and
surveyors can help with your lease extension.
Q. Does your fixed fee included both surveyors and
solicitors costs?
A. Yes,
the £2,580+VAT includes all the
legal, valuation and negotiation work you need for your lease extension and also
"disbursements", which are charges some solicitors add on top. You will also have to pay
your freeholder's legal and valuation costs.
Q. Does
your £2,580+VAT fixed fee include the cost of
negotiating my
premium?
A. Yes, absolutely. We're committed to
negotiating a fair price (read our reviews) and we never want
you to
have to choose between accepting a price that is too high or continuing to fund
negotiations
without knowing if it is worth it.
Q. Do you do lease extensions for freeholders as well
as
leaseholders?
A. No. We were set up by a leaseholder
for
leaseholders. In order to negotiate fair premiums for leaseholders we can't be using one
set
of arguments one day, and another set the next.
Q. Are you a member of the Association of Leasehold
Enfranchisement Practitioners (ALEP)?
A. Yes. ALEP is the kitemark that recognises the best lease extension solicitors and
surveyors
in the industry. Homehold are a full member. Lease extensions involve complex areas of
law and valuation, so they are best left to specialist
professionals. Homehold's own law firm, LLS, is also authorised and regulated by the
Solicitors
Regulation Authority.
Q. Why should I choose Homehold over your competitors?
A. We're not sure that we have any
direct
competitors. As far as we
know we're the lease extension company who only works for just leaseholders and that
uses their own solicitors and surveyors, rather than outsourcing. By using our own team
of
valuers and our own law firm, we can keep the quality high.
Q. How do you maintain such good reviews?
A. We have a specialist team who is
very
experienced in this type of work - it's all we do. We are the lease extension company to
choose if you want true specialists. Everytime we find a way
to improve, we apply it consistently across our processes. If we get something wrong,
we'll
always do our best to put it right.