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Lease Extensions Essex

At Hair & Son, we can assist with property lease extensions in Essex, helping you add years to your lease. Once the lease drops below 80 years, the value of your property will begin to depreciate significantly, making it much harder to sell. Our long-standing history in lease extensions allows you to save money before it’s too late.

Desktop Estimates

We use the latest data and property listings to conduct remote valuations, helping you to get what you need, quickly.

Comprehensive Valuations

Receive a thorough valuation report that provides an accurate estimate of the premium payable to extend a lease or acquire freehold interest.

Negotiations

We will conduct negotiations on your behalf to ensure the very best outcome for your lease extension or freehold interest.

Up To Date Knowledge

With a long-standing history in this specialist area, we have fresh knowledge on all matters relating to lease extensions and freehold interest.

What Is a Lease Extension?

A lease extension is a binding contract between parties – usually the freeholder and the leaseholder – which adds a continuation period to the lease, replacing the existing lease with a new one. The contract sets out the dates the lease extension starts and ends along as well the new terms if there are any. A lease extension extends the time you have before ownership of the property returns to the landlord. You can find out how long your lease has left by downloading the leasehold title from the Land Registry website. For Essex lease extensions, talk to our team today.

Why extend your lease?

When the lease on a property drops below 80 years, it immediately becomes less valuable and desirable. The more the lease drops, the more the value of the property will depreciate. If your property has less than 75 years remaining on the lease, it will be more difficult to find a mortgage lender, and the number of potential buyers will become significantly limited.

As the UK government begins to implement new legislation to make lease extensions more affordable, now is the best time to act. Acting sooner rather than later will allow you to take advantage of all the benefits of lease extensions in Essex.

Types Of Essex Lease Extensions Available

Voluntary Extensions

If both the landlord and tenant agree to a lease extension, the process is simple. Our experts will assist you with voluntary extensions, carrying out inspections, calculations, valuations, and negotiations (if required).

Statutory Extensions

In accordance with the Leasehold Reform, Housing & Urban Development Act (1993), tenants can extend their lease if they are happy to pay the landlord a premium. Statutory extensions add 90 years to the existing lease term and reduce the ground rent to zero.

What’s Right For You?

Voluntary extensions are typically used when the terms of the extension are agreed upon by both the landlord and tenant. However, it’s worth knowing that either party can back out at any time.

Statutory extensions have strict rules and timeframes, offering more protection for both parties. Either party can apply to the Tribunal if there is a disagreement about the terms. There will be penalisations for any party that withdraws after the initial notice.

Steps Involved With Our Lease Extension Service

  1. Acquire a copy of the lease: This allows us to determine the terms and demise of the property.
  2. Inspect the property: Our experts will thoroughly inspect the property to ensure accurate estimates.
  3. Carry out calculations: Research from in-person inspections and desktop estimates will fuel our calculations.
  4. Valuation reports: We will prepare and issue a valuation report, providing an accurate estimate of the premium payable.
  5. Negotiations: If required, we will conduct negotiations on your behalf.

How Much Does It Cost To Extend A Lease?

With Hair & Son, there are no hidden costs or unwanted surprises. We charge £395 + VAT for property lease extensions in Essex. If needed, an additional £325 + VAT will be charged to assist in negotiations. Fees will only be adjusted if a matter is taken to Tribunal.

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Our bespoke tenant portal will give tenants and leaseholders the ability to report repairs, access their rent account, make online payments and view and download important documents.

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OUR TEAM

190 London Road Southend-on-Sea Essex SS1 1PJ

T 01702 341 177

HARRY STEPHENS

Sales Negotiator

DARYL GARNER

Sales Administrator

HAYLEY COOMBES

Sales Negotiator & Progressor

ADRIAN BARTLETT

Sales Consultant

190 London Road Southend-on-Sea Essex SS1 1PJ

T 01702 341 177

OLIVIA DEDMAN

FARLA

Lettings Manager

JENNIFER STONE

Residential Lettings Accounts Manager

MORGAN FORTUNE

Lettings Negotiator and Residential Property Manager

JULIE BLACKWELL

Residential Property Manager

NICOLE HART

Lettings Property Manager

Elizabeth Carter

Lettings Property Manager

186 London Road, Southend-on-Sea, Essex, SS1 1PJ

T 01702 43 22 55

DIANE TAIT

Associate Partner

HAYDEN HARLE

Commercial Property Consultant

JOHN ALLISON

Trainee Commercial Property Manager

LIZ PENNEY

Commercial Property Administrator

186 London Road Southend-on-Sea Essex SS1 1PJ

T 01702 43 22 55

PAUL CUTMORE

Auction Manager

LAURENCE COX

BSc (Hons) MRICS

Partner

ELIZABETH COLBY

Auction Assistant

David Brandajs

BSc (Hons) MRICS

Auctioneer

186 London Road Southend-on-Sea Essex SS1 1PJ

T 01702 43 22 55

Marie Corbyn

MTPI AssocRICS

Head of Leasehold Property Management

Kay Gregory

Leasehold Property Manager

Rob Lintern

Leasehold Property Manager

Peter Walsh

Leasehold Property Manager

Chelsea Anderson

Service Charge Manager

Katie Potter

Leasehold Property Administrator

Amy Lane

Leasehold Property Administrator

Jordan Owolabi

Leasehold Property Manager

LUKE BIRD

Management Surveyor

186 London Road Southend-on-Sea Essex SS1 1PJ

T 01702 43 22 55

LAURENCE COX

BSc (Hons) MRICS

Partner

DAVID BRANDAJS

BSc (Hons) MRICS

Commercial Property Surveyor

Charlie Cox

MSc, BEng (Hons)

Building Surveyor

Steve Ansell

FRICS

Consultant Surveyor

Melanie Sounes

Secretary

Jackie Sheahan

Secretary, Surveys Department

Helen Cosford

Admin Assistant