Whether you are a landlord or a tenant who is unsure whether you have the right to extend your current lease, we are here to help. Whatever your situation, our experienced and specialist team can offer the right advice and support.
Are you a tenant?
As a tenant, you may be wondering if you are able to extend your lease. The answer will usually be yes, with a few exceptions:
- The property must be held under a long lease of at least 21 years, and
- You must have owned the lease for two years or more
Benefits of extending your lease
If you are a tenant considering extending your current lease, there are potentially several benefits, such as:
- The property is likely to increase in value
- You would be in a better position if you decide to re-mortgage in the future
- The property would be difficult to sell if the remainder of the lease only covers a short period
Why choose us
Stirling Ackroyd Legal are correctly geared to take care of your lease extension process including the working with independent chartered surveyor to value your lease.
Speak to a Solicitor
Following the Governments announcement on the UK going into lockdown, many businesses have followed protocol and have instructed their employees to work from home.
It is important to weigh up the costs and the benefits to any venture before you invest, and commercial property is no different. Although the residential properties are what usually springs to mind when investment is mentioned, it is important to consider that commercial properties also have their benefits.
As part of its ‘Warm Homes for All’ initiative, the Labour Party has announced plans for significant upgrades to UK housing in a bid to create a new generation of green homes. The Labour Party aim to drastically improve loft-insulation and double glazing, reducing a reliance on fossil fuels and creating 450,000 new jobs by 2030 in the process.