Homehold is an end-to-end lease extension service, meaning we handle your lease extension from start to finish. We can do this because we have our own firm of solicitors - Leasehold Legal Services who handle the complex lease enfranchisement process. Meaning you will not have to go through the stress of instructing two different firms and acting as the project manager.
While Leasehold Legal Solicitors handles the lease enfranchisement process, Homehold handles the valuation and premium negotiations. Our aim is to provide you with a seamless service while also getting you the best price on your premium.
We invoke the right given to you as a leaseholder to extend your lease under The Leasehold Reform Housing and Urban Development Act of 1993 (a.k.a a statutory or formal lease extension). This act gives you the right to extend your lease by an additional 90 years, it reduces your ground rent to £0 (a peppercorn) and it keeps most of the other terms of your lease the same.
Whether you have a local council authority flat like the ones found on Northholt Road or a period conversion Marlborough Hill or a flat above a commercial premises like those found on the High Street.
We have loads of experience working with the Harrow council lease extensions. You can be content knowing that no matter your lease situation, we will be able to provide an excellent lease extension service.
Considering using Homehold for your lease extension in Harrow?
Who can extend their lease in the London Borough of Harrow?
All leaseholders have the right to extend their lease. However, there is one exception to this.
If your flat was purchased under the shared ownership scheme, you would have to wait till you have stair-cased to 100% ownership.
It used to be a requirement to have owned your flat for two years. This was however removed on 31 January 2025.
How much does a lease extension cost?
The cost of a lease extension varies from flat to flat. The three main things that inform this cost are;
- The market value of your flat as though it sold with a long lease,
- The ground rent you pay and any rises (and how often it rises),
- The number of years that is currently left on your lease- flats with less than 80 years left on their lease will be more expensive because you must pay your freeholder something called a ‘Marriage Value’.
Local authority flats tend to have a lower premium compared to private freeholders. This is because private developments tend to lease flats with high ground rents and are often worth more. However, this will vary depending on your situation. We can advise further if you have any queries.
What’s the process?
Lease extensions are complex, with different stages that requires expert attention. Homehold provides an integrated end to end service, from the valuation to the registration at the land registry, you can rest easy knowing that your lease extension is in good hands.
You are never left wondering at what stage your lease extension is, as we carry you along each step of the way with our weekly updates.
For more information, you can use our lease extension calculator or book a free phone consultation with a member of the team, who will explain the process to you.
Stage 1: Preparation and Valuation
We begin with a firm of lease extension solicitors we own, who get all the paperwork associated with your flat from the Land Registry and make sure everything is in order. We do this to ensure that we have all the legal information concerning your property.
At this point your case will be passed onto one of the lease extension valuers from the Homehold team will conduct a valuation of your flat. Our report is detailed, and it provides you with our valuation and a range of how much your lease is likely to cost.
Stage 2: Notice Serving and Negotiation
The next stage will be handled by the solicitors at LLS who will serve your freeholder with our initial notice (known as a ‘Section 42 Notice’).
Your freeholder has two months to respond to this notice if they accept the amount you want to pay. Where they deem our proposed figure unacceptable, they are required to provide a counter-notice figure.
The relevant Homehold team member will contact you and ask you to confirm whether you are happy for us to begin negotiations. We will negotiate using the evidence gathered during the valuation and double check to see whether there is any new evidence which could support our position. Negotiations will stop only when we have reached a premium you are comfortable with. Please note that we work on a fixed-fee basis, and so will not charge extra for additional or length negotiations.
Stage 3: Conveyancing and Completion.
After the premium has been agreed your freeholder’s solicitor will send over the draft lease to our in-house leasehold extension solicitors who check it to make sure that they are happy with the terms from a legal perspective and that you are happy with the proposed terms.
Once this has been looked through and is satisfactory, your lease extension is ready to be registered at the Land Registry.
What do Homehold charge?
We charge a fixed fee of £2,580+VAT, that is paid in three equal instalments of £860+VAT.
Why use Homehold for your lease extension?
We have tons of experience completing lease extensions in the Borough of Harrow on a wide range of property types. This includes (but not limited to) ex-local authority developments, converted flats in former houses and flats above commercial premises. We have experience will all types of residential flats in your area.
Hear it from another flat owner in Harrow
Homehold provided an excellent service with my leasehold extension. I was kept informed on a regular basis and every step of the process was explained in a clear and concise manner. They handle everything for a reasonable fee and I would not hesitate in recommending this company to anybody who is extending their lease.
L Brown
