Extending your Lease
If your lease term falls below 80 years, it can make it more difficult to sell or remortgage your home. Mortgage providers generally will not consider applications on properties where the lease period is below 80 years, as it increases their risk.
To extend your lease, you'll need to make a one-off payment (known as a premium). The Leasehold Advisory Service have an online lease extension calculator, which will give you an indication of how much the premium for your home might be.
100% of leaseholders have a statutory right to a lease extension through a formal process. If you’d like to go down the formal route, you should seek independent advice. See the Leasehold Advisory Service’s website for more details.
However, we would encourage leaseholders to pursue the informal route as it is much quicker and cheaper. The team at BE WEST look after our lease extensions. To discuss the options you have in extending your lease, please contact the team on email@example.com with your name and address or call 0208 996 8857 to speak to the team directly.