Our Services

Leasehold Reform

Lease Extension & Enfranchisement

The existing legislation gives most leaseholders of flats and houses the right to extend their leases or buy their freeholds, providing that the original lease was granted for a period of in excess of 21 years.

Leasehold Reform Act 1967 (as amended) – Houses

A lessee of a house, who has owned the lease for longer than two years (prior to the date of claim), is entitled to acquire the freehold interest.

Leasehold Reform, Housing and Urban Development Act 1993 (as amended).

A lessee of a flat, who has owned the lease for longer than two years (prior to the date of claim), is entitled to acquire a 90 year lease extension, at a peppercorn rent. Alternatively, a group of leaseholders are entitled to collectively acquire their freehold, providing that they satisfy the requirements as set out in the Act, this is referred to as Collective Enfranchisement.

Our Service

Whether you wish to purchase a lease extension or the freehold of your property we can help. Bishop Beamish have a broad experience in Leasehold Reform work and provide a comprehensive service.

We offer an initial consultation where we can advise as to whether you are entitled to a lease extension or to purchase the freehold. We can introduce Solicitors who are well experienced in leasehold reform work and lenders who finance short leases if this is required.

Having completed this we will act on your behalf in carrying out a valuation of the property in accordance with the RICS Valuation Standards (6th edition), both on its existing lease and on completion of the extension or enfranchisement. We will also provide you with our calculations as to the correct premium and the figures to be submitted in any trigger notice.

We will then liaise with your Solicitors who will serve the notice. Once the Landlord responds we can then negotiate on your behalf in order to achieve the best possible premium.

Our experience in this area means that we are well served to achieve the best possible result and our fees are on an incentivised basis. In the event that we are unable to reach agreement with the Landlord, the matter may be referred to the Leasehold Valuation Tribunal (LVT). In these cases we will liaise with solicitors, prepare our valuation case and represent our clients at the hearing.