Sheffield Lease Extension Solicitors

Do you live in Sheffield and need support from a solicitor with a lease extension ?

Both flats and appartments are usually given relatively long leases, but this isn't always the case. Many leases were granted for a period of 99 years or 125 years. If your lease has less than 85 years to run, you should consider extending it.

Extending a lease will cost money and you will be expected to pay a specific amount as well as the landlords costs, and your own costs. 

Certain mortgage lenders will not lend money on properties where the lease has less the 85 years left. The shorter the lease, the more difficult it is to remortgage or sell the property in the future.

A lease can usually be extended in one of three ways;

 Statutory lease extension

 Non-statutory lease extension

 Voluntary lease extension

If the freehold of a property is owned by a management company, in which all the tenants have shares, it may be possible to negotiate a voluntary lease term of 999 years with no ground rent.

To discuss a lease extension in further detail with a member of our Sheffield team please call the number below or complete the online form.