Redbridge Lease Extension Solicitors & Surveyors

Almost always Redbridge Council. The council has kept ownership of its homes rather than transferring them to a housing association, so former council flats across Hainault, Barkingside, Clayhall and Woodford Bridge are usually held on leases from the London Borough of Redbridge.

There are exceptions where a flat has been bought back or an intermediate lease has been created, so we always check the freehold title at HM Land Registry before Arcadia Law serve the Section 42 notice.

Yes. The 1993 Act applies whoever the freeholder is, including the owner of the flat upstairs or downstairs. You serve a Section 42 notice in the usual way, and your neighbour must respond with a counter-notice.

Many neighbours prefer to agree terms informally to save costs, and that can work well. The statutory route is there if they will not engage, or if you need certainty before a sale. We can advise you on both options.

The premium is worked out as a share of the flat’s value, so higher values mean higher premiums. With the same lease length and ground rent, a flat worth £475,000 in Wanstead will produce a noticeably larger premium than one worth £300,000 near Ilford Lane.

Lease terms differ too. Conversions in central Ilford often started on 99 year leases, while council flats began on 125 years. We value every flat on evidence from its own street or block.

Mainly the ground rent and the length of the term. New flats in the regeneration area are generally sold on long leases, and those granted from 30 June 2022 should carry no ground rent. Some earlier new-build leases include rents that rise over time, which can affect resale and mortgage options.

If you are already an owner with a rising ground rent, a statutory extension would reduce it to a peppercorn and add 90 years. We can tell you whether that is worth doing now.

Often informally. Where the leaseholders own the freehold company, the directors can agree to grant extensions by deed of variation, sometimes for a nominal premium and with no ground rent. Many companies adopt a standard policy so every flat is treated the same.

If the company cannot reach agreement, or you need the certainty of a statutory claim, you can still serve a Section 42 notice. Blakes can advise on fair terms either way.

Very much so. Below 80 years, marriage value is part of the premium, and it increases each year the lease shortens. A lease in the low 70s is also likely to put off buyers whose lenders want 80 to 85 years remaining.

Serving the notice fixes the valuation date and stops the premium rising further while negotiations take place. We can give you a free estimate so you know what is involved before committing.

Yes. After the Section 42 notice is served, its benefit can be assigned to your buyer when the sale completes. The buyer continues the claim from where you left off, keeping the valuation date that your notice fixed.

This helps where a lease is too short for a buyer’s lender, because the buyer can see that the extension is already under way and on what terms.

If the landlord fails to give a counter-notice by the date in your Section 42 notice, you can apply to the county court for the new lease to be granted on the terms set out in your notice. The application must be made within six months of that date.

This is one reason the figures in the notice need to be realistic and backed by evidence. Arcadia Law keep track of every deadline so that no right is lost.