How long and how much it will cost to extend a lease will depend on the response received by your Freeholder. To help you budget we set out below our guide prices for our fees. We have divided our fees to reflect the three incremental stages of the process. If the Freeholder is determined to resist the extension then all three stages may be required, if the Freeholder is more content for the lease to be extended then only stage one will be required.
Stage one – straightforward / undisputed
- Checking eligibility for a lease extension and identifying the competent landlord (the legal freeholder);
- Liaising, if necessary, with your instructed valuer to determine the premium for the lease extension;
- Drafting and serving the Notice;
- Establishing title (ownership);
- Making payment of deposit on account of the premium (provided we are in funds);
- Receipt of the Counter-Notice.
Fee guide: £600 plus VAT and any charges / disbursements incurred to others.
Stage two – some negotiation required and preparing for tribunal
- Considering the Counter-Notice;
- Liaising with your surveyor regarding negotiations on the premium;
- If following negotiations, agreement cannot be reached on all the terms of the lease extension, making an application to the tribunal.
Fee guide: £600 plus VAT.
Stage three – tribunal
- Dealing with the directions made by the tribunal including preparation of bundles, briefing a barristerand liaising with the expert.
Fee guide: £600 plus VAT and any charges / disbursements incurred to others i.e. a barrister.
There may be occasions where additional work is required, if this is needed we will agree with you either an inclusive fee or undertaking work on a price per hour basis. Our current hourly rate is £240 plus VAT. The fees above do not include the cost of any conveyancing that will be required.
If you would like further advice please contact us
Please telephone and speak to Shelley Goldberg for free on 0800 037 1625 or fill in the online form to request a call back and someone will ring you within 24 hours.
You can access any of our conveyancing lawyers at any of our offices spread throughout Surrey, Hampshire and Greater London including Kingston upon Thames, Bordon, Cheam, Canary Wharf, Leatherhead, Raynes Park, Surbiton, Tolworth or Walton on Thames.