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ARTICLE · 02 APRIL 2024

Understanding Lease Extensions

Blaser Mills
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A high percentage of homeowners own a leasehold property. It is therefore important to understand what a lease extension entails.

United KingdomReal Estate and Construction
Shannon Terry
Shannon Terry
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A high percentage of homeowners own a leasehold property. It is therefore important to understand what a lease extension entails. Extending your lease can seem like a daunting process due to the complexities involved. However, as your lease term decreases, the value of your property in turn decreases, making lease extensions essential if you wish to maintain or enhance the value of your property. If you are considering extending your lease, it is important to discuss your options with a legal advisor. At Blaser Mills, we aim to provide clear and comprehensive advice in plain English to ensure a seamless transaction.

If you are coming up to only having 80 years remaining on your lease, you should consider extending your lease. Once the term of years goes below 80 years, the premium payable for a lease extension will increase considerably. It is also highly likely you will face issues obtaining mortgage finance and selling your property. If you are considering selling

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