Under The Leasehold Reform Housing and Urban Development Act 1993 (also known as a statutory or formal lease extension) gives you with the legal right to extend your lease by 90 years, reduce your ground rent to zero and keep the other terms in your lease pretty much the same.
Whether your flat is located Brentford or Isleworth, Homehold has combined specialist solicitors and surveyors into a single fixed fee lease extension service. This saves you the stress of instructing two separate firms and acting as a project manager. The all-in-one service is made possible with the help of our in-house lease extension surveyors and a firm of solicitors we own, Leasehold Legal Services (LLS).
No matter the type of property, Homehold has the experience needed in valuing a range of various styles of properties. From local authority developments like the Morrison House and Windrush Close, to purpose-built flats like those found in Walnut Tree House and on Amesbury Road and above commercial flats like Rex House. We have the experience dealing with Hounslow Council lease extensions to do a great job.
If you want further advise please book a free telephone consultation with one of our valuers, who will be more than happy to assist.
Considering using Homehold for your lease extension in Hounslow?
Who can extend their lease in Hounslow?
Anybody that owns a flat in the London Borough of Hounslow can extend their lease. However, there is one notable exception which is if you brought your flat using a “shared ownership” scheme, where they pay rent for the share they don’t own. They unfortunately will have to wait till they have fully ‘staircased’ their ownership to 100%.
The requirement to own you flat for two years was removed on 31 January 2025.
How much does a lease extension cost?
Lease extensions costs vary from flat to flat. However, there are three things that inform that cost and they are;
- The market value of your flat with a long lease (sometimes called ‘notional’ value),
- The number of years unexpired on your lease,
- The amount of ground rent you pay and subsequent rises.
Typically, flats that have Hounslow Council as their freeholder will pay less premium compared to flats that have a private freeholder. Most local authority flats were leased on 125-year leases in the mid 1980’s with £10 ground rent payments while private freeholders let their flats with shorter lease lengths and with higher ground rent payments.
What’s the process?
At Homehold, we look after the whole process of the lease extension on your behalf. This is from instruction to completion.
Stage 1: Preparation and Valuation
The solicitors will review the documents related to your flat and the development it is located in. This is done to ensure that we have everything we need for your lease extension, and there are no surprises later in the process.
After this has been completed, the valuation team will be briefed by the solicitors, who will conduct the valuation to estimate what your premium payment will be.
This will be done by finding and assessing “comparable properties” that are similar to yours own. For example, if your flat is a purpose-built flat in Charleston Close, our valuation team will be looking for similar properties which have sold to evidence our valuation.
After the valuation has been completed, the valuation report will be sent over to you.
Stage 2: Notice Serving and Negotiation
Your case is passed back to LLS, who will serve notice to your freeholder called a ‘Section 42 Notice’. This document claims your right to extend your lease by 90 years, remove your ground rent and keep the terms of your lease the same. The ‘Section 42 Notice’ will also include the premium amount contained in the valuation report.
Your freeholder has just over two months to come back to us with their Counter Notice and they will most likely come back with a much higher price. This is typical and they usually do this with the view of being negotiated down.
You will be contacted by a member of the Homehold team to commence negotiations. We will negotiate using the evidence gathered during our initial valuation. We will also check to see if there is new evidence we can use. Negotiations on the premium will continue until we reach a figure you are happy with at no extra charge.
Stage 3: Conveyancing and Completion
After the premium has been agreed, our own firm of solicitors we own - LLS will look at all the details of what has been exactly agreed. This will be done with great and attention so that the only changes are 90 years have been added, the ground rent has been reduced to zero and no other changes have been made! Finally, once the lease has been agreed, your solicitors will register your lease extension at the Land Registry.
What do Homehold charge?
We charge a fixed fee of £2,580+VAT and will be paid in three equal instalments of £860+VAT.
This includes all the legal, valuation and negotiation work that is needed – additional fees such as Land Registry charges are included within that price.
Why use Homehold for your lease extension?
At Homehold, our goal is to provide a fair and efficient service. If this article hasn’t convinced you yet, please have a read of our reviews on Google & Trustpilot, where many of our satisfied clients have left glowing reviews.
Hear it from another flat owner in Hounslow
"We contacted Homehold Services for lease extension of our leasehold property and they provided us in-depth information and step by step guide all the way from start to finish. They have been very professional throughout and their fees are very reasonable for the excellent hands free service they have provided. We would recommend Homehold Services for lease extension without a hesitation."
Teshar Gurung
