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Lease Extensions Case Studies
CASE STUDY ONE
Our client wanted to negotiate the terms to a new 90-year lease on her flat. Keen to sell, she was unable to do so without the lease extension. However, her landlord's solicitors insisted that she accept the new lease on their terms — many of which would burden her with unwanted obligations. These even included obtaining prior permission from the landlord to sell the flat in the future.
How We Helped
We noticed the landlord's solicitors lacked expertise in this specialised area of the law. The firm had wasted our client's time and money by insisting she agree to terms the landlord wasn't entitled to. We insisted the landlord scrap the current lease and produce a lease compliant with the law.
The client was granted a new lease. We then appealed to the Leasehold Valuation Tribunal on behalf of our client. This secured a 50% reduction in the fees our client was obliged to pay the landlord.
CASE STUDY TWO
Our client was a landlord with a vast property portfolio. They contacted us after receiving a notice from their tenant for a new 90-year lease. Investigating the claim, we discovered the flat had been sold. We explained to our client that the buyer could inherit the claim, provided the seller had legally assigned the claim to the buyer on completion.
How We Helped
We discovered that the claim had not been assigned properly. This meant the lease claim would expire and the buyer would not be able to claim a new lease for two years. Our client would benefit because their freehold asset would be preserved. That would ensure a higher premium if a claim was made two years later. We put pressure on the tenants' solicitors who finally conceded the claim.
On behalf of our client we offered the tenant a voluntary lease extension, but at a higher premium for our client. We secured 100% payment of our legal fees from the tenant.