Enfranchisement and Lease Extension

Lloyds Clifford Solicitors conveyancing department provides expert advice on Leasehold Enfranchisement matters. We are listed on LEASE – The Leasehold Advisory Service approved list of legal practitioners, dealing with large volumes of lease extensions and enfranchisement each year to include:

• Single Flat lease extension
• Collective freehold purchase
• House enfranchisement claim
• Rights of first refusal
• Right to manage

What is Leasehold Enfranchisement?

Leasehold Enfranchisement is the process whereby tenants of a residential property can, in certain circumstances, buy the freehold to their house or flat collectively from their landlords or, in individual cases, extend their leases by 90 years, known as lease extension.

A Lease is a diminishing asset and with every year that passes it decreases. It is preferable that there are at least 80 years left on the lease, otherwise it is regarded as being short and can lead to difficulties to sell or remortgage. Extending the lease of the property will make it more marketable.

The benefits from a collective Leasehold Enfranchisement include a greater control on the management of the block with a possible lower management charge and it may increase the value of the property.