Do you need a lease extension solicitor or surveyor for your flat in the London Borough of Hillingdon – you’ve come to the right place!
We have extensive experience in the borough and provide a one-stop shop service for leaseholders wishing to extend their leases, which includes all of the valuation and negotiation work required to achieve a fair price and all of the legal work to ensure your lease extension is correctly registered at the Land Registry.
Once completed, your lease will have an additional 90 years, on top of whatever you currently have. If you currently pay a ground rent, this will also be reduced to £0 for your entire lease.
Our team work in Hillingdon frequently. For example, we’ve recently completed a lease extension on a 1980s development in West Drayton and one with a particularly short lease in Harefield.
We have experience working with ex-Local Authority properties where Hillingdon London Borough Council is the freeholder, and with private freeholders too. Wherever you are in the borough from Heathrow to Northwood or Uxbridge to Yeading, we can help.
Which Hillingdon flat owners are eligible to extend their lease?
If you are the owner of a flat or maisonette in Hillingdon, it is almost guaranteed that you have the right to extend the lease under the Leasehold Reform Housing and Urban Development Act 1993. If your freeholder is the London Borough of Hillingdon, this will certainly be true.
There are two notable exceptions to this rule:
If you have a shared ownership flat where you don’t own 100% and you pay rent (usually to a housing association) then you don’t have a legal right to extend.
If you haven’t yet been the legal owner of your flat for two years, you can’t extend until you have been.
How much does a lease extension cost?
When you do a lease extension you have to pay for three things – (1) the price to buy the additional years known as “the premium” (2) the costs of your own lease extension solicitor and surveyor and (3) your freeholder’s legal and valuation costs.
Starting with the premium, this is based on the following things:
- The value of your flat
- How much ground rent you pay, and whether it rises over time
- How many years you have left on your lease
Flats in Hillingdon that have private freeholders may have ground rents which are significant or rise frequently over time. Equally they may have leases that are below 80 years, where marriage value is payable. Both of these things make it more expensive to extend the lease.
For example we recently did a lease extension on Hetherington Way – between Ickenham and Ruislip – on a flat where the London Borough of Hillingdon was the freeholder and it had a long lease. The premium was approximately £4,000. In contrast, we did a lease extension on a flat in West Drayton, with a 64-year lease and despite being a one-bed flat the premium was over £20,000.
What’s the lease extension process?
Homehold are very unusual because we will look after your lease extension from instruction to completion, including all of the legal and valuation work. We have a valuation team in house, and our legal work is carried out by our own firm of solicitors, Leasehold Legal Services.
Stage 1: Preparation and Valuation
Your lease extension will be started by our solicitors reviewing the documents related to your flat. This will include it’s existing lease, title register and title plan. They will do the same for your building, and the development it resides within. This is done to ensure that everything that is require for your lease extension is in hand, and there are no delays later on.
The solicitors will then brief our in-house valuation team, who will do a valuation to give you a concrete idea of how much your lease extension is likely to cost you.
This will be done by reviewing properties that are comparable to your own – the best comparables are similar properties sold nearby. For example, if your flat is a one-bed flat in a purpose-built block in Eastcote, we’ll be looking for similar properties. If you own a maisonette in Northwood, we’ll concentrate on finding similar properties to that.
Stage 2: Notice Serving and Negotiation
Once the valuation is complete, our solicitors will claim your legal right to a lease extension by serving a Section 42 Notice on your freeholder.
Your freeholder will have two months to respond to this, and they usually leave it until the last minute before responding. Their counter notice must contain a counteroffer of what they want you to pay them.
Our valuation team will work hard on your behalf to negotiate with your freeholder’s valuer. They will use the evidence they collected during the valuation stage.
We’re very unusual as a company, because we include negotiations – however long they take – within our fixed-fee price. We never want you to have to chose between paying a price that you know is too high, or continuing to fund negotiations without knowing if you’ll be better off in the long run.
Stage 3: Conveyancing and Completion
Once the premium has been agreed, our solicitors will start the legal work required to extend your lease.
Your freeholder’s solicitors will produce the paperwork to do this. It is usually a brief document that will essentially extend your existing lease by 90 years, set the ground rent to £0, but otherwise keeps the terms of your lease much the same.
Hillingdon Council have their own legal team, who often do the legal work associated with their lease extensions. If you have a private freeholder, then they will almost certainly use a commercial firm of specialist lease extension solicitors to do the work for them.
What are Homehold’s fees for a lease extension?
Homehold will look after your lease extension in Hillingdon from start-to-finish, and our overall fee for the legal, valuation and negotiation work is £2,325+VAT.
We charge this in three equal instalments of £775+VAT.
For the legal work we utilise Leasehold Legal Services, which is our subsidiary law firm which is regulated by the Solicitors Regulation Authority.
Why use us for your lease extension?
Our solicitors and surveyors have considerable experience completing lease extensions in Hillingdon.
“I love valuing in the borough of Hillingdon, having close family ties in the borough and having spent much time there over the last fifteen years. We have experience working with key freeholders in the borough, including Hillingdon Council and Places for People”
Linz Darlington, Managing Director at Homehold
Hear it from another flat owner in Hillingdon
The homehold team together with their leasehold Legal Services team have been absolutely fantastic in helping me complete my lease extension. They did everything for me and gave me regular weekly updates. I highly recommend them to anyone who is thinking in renewing their lease.
Natalie Abreu, Hayes