Advoco’s guide to serving a Section 42 for lease extension

03 Jul Advoco’s guide to serving a Section 42 for lease extension

As a leaseholder, if you have owned the property in question for more than 2 years you have a right to extend the lease and can serve a Section 42 Notice to the freeholder – this way you can make them an offer and then negotiate until you come to an agreement.  This link should help give you an idea of value:

http://www.direct.gov.uk/prod_consum_dg/groups/dg_digitalassets/@dg/@en/documents/digitalasset/dg_195423.html

The section 42 is basically a letter you send to the freeholder confirming you have the right to extend but take a look at the link below which details what you need to include in the letter.

http://www.lease-advice.org/documents/Lease_Extension_Getting_Started.pdf

If you can’t agree, then you can refer it to the Leasehold Valuation Tribunal (LVT) and they will make the decision for you.

This way, you’ll still need a solicitor but you won’t have to pay exorbitant survey fees!  With regards to solicitors, I use Laurence Warnell at Erhardt & Warnell in Ascot.  He’ll run through things in plain English for you and won’t charge the earth!  His contact details are 01344 623400 or Laurence.warnell@erhardtwarnell.co.

Hope this helps a little.

Rob