Managing and selling your lease

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Leaseholder services

Managing your lease

Lease extensions

If you have owned your home for at least two years, you can purchase a lease extension. This will normally be granted for 90 years on top of the number of years left on your existing lease.

Cost

We will only be able to confirm the estimated cost of the lease extension, once the valuation has been carried out.

How to apply

If you decide to apply to extend your lease, you will need to serve the Home Ownership Team with a formal notice.

It can be a complicated and difficult a difficult process. We recommend you get professional help from a solicitor and or a surveyor with experience in this area. You can also approach the Leasehold Advisory Service which provides free advice on the law affecting residential leasehold property in England and Wales.

You will also be responsible to pay our legal and valuer's fees of approximately £1,800 plus VAT and your own legal fees.

Selling your home

If you buy a property through the Right to Buy scheme, you will not be able to sell the property for 10 years unless you meet the conditions of the Housing Act 1985.

This means that residents must give the landlord the right to buy back the property first. The leaseholder or freeholder selling their property must serve a notice on Brent Council.

The Council then has eight weeks to tell the leaseholder or freeholder if they want to buy. We advise all leaseholders and freeholders to get legal advice before selling their home in this period.

If you need any more information, please contact us.

Buying the freehold

If you are a group of leaseholders who meet certain qualifying criteria, you can act together to buy the freehold of your building. This is known as collective enfranchisement.

Leaseholders can apply to buy the freehold where at least two-thirds of the property is sold and that two thirds want to buy.

You should seek specialist advice on the best option for your particular circumstances. You can obtain further information from the Leasehold Advisory website.

Valuation and cost

A valuation will be carried out by an independent Chartered Surveyor on each of the individual flats in the block subsequent after a Section 13 notice has been received.

You will be responsible to pay our valuer’s fees of the sum of £912, legal and administrative cost of approximately £3,000 as well as the value of the freehold.