The lease extension process often requires the expertise of two professions – a lawyer for the procedure, agreement of the paperwork and registration of the new lease, and a surveyor to value the property and the lease premium.
In order to ensure the process is correctly carried out we always recommend using a specialist lawyer and surveyor who understand the lease extension process and the tactics used by freeholders used to secure a higher payment and can ensure the leaseholder is negotiating at the appropriate market value.
A lease extension valuation will help you understand the issues and make a well-informed decision.
Instructing the right surveyor early in the process could potentially save you thousands by ensuring you start with the correct lease value and have expert assistance with any premium negotiations.
In our experience at Brady Solicitors, once a freeholder sees there is a specialist surveyor involved, they will often change their tactics and speed up the agreement.
Surveyor services can also benefit your lease extension through:
- Reports setting out your best and worst-case scenarios
- Explaining your options and putting you in a knowledgeable position for understanding potential costs.
- Strengthening your negotiating position in deciding the premium payable to the freeholder
- Helping you to reach agreement more quickly on the premium
Brady Solicitors works with a chosen panel of specialist surveyors, who can ensure your lease extension goes as swiftly and smoothly as possible and at the correct value.
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