subject: Extending A Lease - The Diy Route [print this page] You're about to go through the process of extending the lease on your flat. You've spent a few hours online researching the whole question of extending a lease. Everyone advises this so you pat yourself on the back that you're doing the right thing. You know you qualify for lease extension: you've owned the residential flat for 2 years on a long lease - which was for a 99 year term. Now you have the right to extend your lease by a further 90 years.
Great, so far. It helps that you feel quite good with figures and your confidence is high. Lots of your friends have tackled all kinds of much bigger projects without the expense of employing a legal guy. Some have said they rather enjoyed the challenge. Realistically this should not be a huge hassle.
Trawling through the internet in the evenings, searching for any relevant advice. You find plenty and it's great. You feel really in control now. Lease extension looks cool.
It becomes a kind of passion. The internet is a great tool for this kind of thing; you can get so much information. The process of extending your leasehold doesn't sound that complex. From what you read, to extend your lease you just need to keep a clear head, write things down and document everything in a file. You're a nice amenable sort of chap too, the sort that can get on with anyone and settle disputes easily. A smile, offer of a drink in the pub and most things can be done without stress.
DIY, that's the job.
Then you discover about valuations, marriage value, tenant rights, landlord responsibilities and various regulations; all relevant information, when doing a leasehold extension. Not to mention the highly rigid procedure and timetable involved in lease extension. You skip over the bits about needing a specialist solicitor. No way, I could start my own business on this, DIY Leasehold Extension!
There might for some information that you read about the Leasehold Valuation Tribunal, but this might be for others, not you. Play Mr Nice Guy and your extended lease will be yours in a few weeks. Not so; by all means research the internet and it's great to arm yourself with as many facts as possible. However, it is the best advice to get a good and specialist solicitor who really understands or complications of leasehold extension - and not attempt DIY leasehold extension yourself.
After all, you might be prepared, but are you unarmed?
