Extending your lease and buying the freehold
Extending your lease
As a leaseholder, if you own 100% of your home, you may have the right to extend the duration of your lease by 90 years.
To extend your lease, you have two options:
- serve us with a Section 42 notice
- apply for a contractual extension.
Section 42 notice
A Section 42 notice means that we must get an independent valuation of the property and the remainder of the lease done.
Please note that the valuation increases significantly if the lease has less than 80 years left on it.
Contractual extension
You can extend your lease for a premium based on an independent valuation (as above).
By choosing this option you can reduce your legal fees and negotiation costs.
For more information, please phone your Legal Officer on 0300 373 3000.
Buying the freehold
If you are a leaseholder (not a shared owner) and you have more than 21 years left on your lease, you may have the right to collectively enfranchise your building.
This means that you and other qualifying leaseholders can form a company, compel us to sell you the freehold and take over all management responsibilities and services for it.
There is strict eligibility criteria and you should check with your Legal Officer whether you qualify before you start the process.
For more information, please phone the Legal Team on 0300 373 3000.
