Homehold offers an all-in-all service that assists you in extending your current lease by 90 years, reducing your ground rent to £0 and keeping the terms of your lease much the same. This done under the Leasehold Reform Housing and Urban Development Act 1993.
We include all the necessary valuation, negotiation and legal work to complete your Kensington & Chelsea lease extension.
Kensington & Chelsea encompasses a wide range of different areas and within those areas, there are different types of flats. Regardless of whether your freeholder is a private company or individual, a housing association, or the Royal Borough of Kensington & Chelsea, we can get the job done.
For example, we did a case in Knights House, which is in between Chelsea and Fulham. This was a case where the freeholder was Kensington & Chelsea Council, and it was set in local authority purpose-built development. We secured the evidence to agree a low premium, and this was assisted by the flat already had a reasonably long lease.
Considering using Homehold for your lease extension in Kensington & Chelsea?
Who can extend their lease in Kensington & Chelsea?
Most leaseholders can extend their lease in Kensington & Chelsea – this is almost a guarantee if the Royal Borough of Kensington & Chelsea is your freeholder.
However, there is one notable exception that wouldn’t allow you to extend your lease.
You cannot extend your lease if your flat is owned under the shared ownership scheme and you have not stair-cased to 100% ownership.
It is no longer a requirement to have owned your flat for 2 years. This was removed on 31 January 2025.
How much does a lease extension cost?
There are three things you need to consider when determining the price of your lease extension:
- The value of your flat (based on evidence we’ll find in our valuation report)
- How much ground rent you pay (and if it rises over time)
- How many years there are currently on your lease
If your freeholder is the Royal Borough of Kensington & Chelsea, you can assume your lease extension premium to be fairly modest, at least in comparison to a private freeholder. This is because most leases (where Kensington & Chelsea are the freeholder) were leased from the 1980s with a long term and a low ground rent of £10.
For example, we did a lease extension in Tavistock Crescent, Notting Hill and this flat had a lease for 125 years from 1986 – so we managed to agree a reasonable low premium with Kensington & Chelsea Council.
However, if your freeholder is private then it is likely that the cost could be significantly higher. This is partly because flats with private freeholder are often of higher value, and often they have a shorter unexpired term and escalating ground rents.
What’s the process?
The lease extension process can be complex and there are different stages that require expert work from lease extension surveyors and solicitors. The good thing is, Homehold have both to make sure your lease extension is done under one roof.
This done via our in-house valuation team and a legal firm we own, LLS, which is wholly owned by Homehold. We essentially offer a ‘one-stop-shop’ service which includes all the necessary valuation, negotiation and legal work for a fixed fee – so you don’t have to be project manager!
Stage 1: Preparation and Valuation
We kick off the lease extension process with the legal team, who will review all the paperwork relating to your flat and your development. We start by doing this to ensure we can spot any nasty surprises early in the process.
Once the legal have all the information they require, they pass this on to the valuation team who will do a valuation report, which serves two purposes.
- To give you an idea of how much your premium will cost
- To give us a chance to gather enough evidence to use during negotiations with your freeholder.
Our valuers will look for similar properties that have a similar proposition to your own. So, if you own a spacious local authority flat in Ladbroke Grove or a stunning converted flat in South Kensington, we will have sharp eye to find key comparables.
Stage 2: Notice Serving and Negotiation
Once you are happy with the valuation report – the legal team can start preparing to serve notice to your freeholder.
This is done via a Section 42 Notice. Your freeholder then has two months (and postage time) to come back with a counteroffer known as Section 45 Notice or accept our initial offer (this rarely happens).
It is more likely that the freeholder will ask for more money. The valuation team will then negotiate with your freeholder to make sure you are paying a fair price for your lease extension. We will use the evidence we found in the valuation report to argue for a lower price.
Stage 3: Conveyancing and Completion.
Finally, once you and your freeholder have agreed a price, the last step is completing the paperwork. LLS, will carefully check and make sure whatever has been agreed is correctly reflected in the document.
Once the document has been signed, LLS will register this at the Land Registry and the matter will be concluded.
What do Homehold charge?
We offer a ‘one-stop-shop’ service to extend your lease for £2,580+VAT
This is paid over three equal instalments of £860+VAT
This fee includes all the necessary valuation, negotiation and legal work you need – including any disbursements!
Strictly – NO HIDDEN FEES.
Why use Homehold for your lease extension?
We have a lot of experience working within the Royal Borough of Kensington & Chelsea on different types of properties. Whether you own a flat in Latimer Road, Earl’s Court or Gloucester Road, we are here to help!
Homehold was set up by a leaseholder, for leaseholders. We work hard to ensure you are paying a fair premium.
Hear it from another flat owner in Kensington & Chelsea
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.
Mr Gurung
