Lease extension and collective enfranchisement

Under the Leasehold Reform Housing and Urban Development Act 1993, leaseholders now have the legal right to purchase a new lease on set terms. In blocks of flats, leaseholders can also collectively purchase the freehold of their block, which is known as enfranchisement.

Leaseholders are likely to be attracted to take such steps as a way to secure their long-term investment in a property and gives them more control over the way in which it is run but, as with any property transaction, seeking legal advice from experts in this field is essential.

Our team is experienced in acting for both tenants and landlords in relation to lease extensions and collective enfranchisements, where the number of parties involved can make it a particularly complex process.

We can advise on relevant rights and options at every stage, negotiating where necessary, and ensure that all deadlines are met to bring the transaction to a satisfactory conclusion.

To find out more about how we can help you, please contact us on 01702 339222 or at commercial@btmk.co.uk