Residential Flats & Lease Extensions - An Update on the Statutory Requirements

Introduction

There have been many reports by the Law Commission over several years on leasehold reform, and particularly lease extensions, so this is an area of the law that is undergoing substantial change. In addition, many long leases are running down with the need to extend, becoming more pressing for the lessees.

You need to be familiar with the technical rules and how these are affected by the reforms. For your clients, a lease extension is crucial as it can affect their investment, value of their home, and harm marketability as well as the ability to mortgage. There are detailed formal procedures from initial preparation right through to registration. Miss an important step and it can all too easily end with an angry client and a potential claim!

It is timely to examine the statutory requirements and review important cases to help you avoid problems or at least recognise them when you see one.

What You Will Learn

This webinar will cover the following:

• The Leasehold Reform (Ground Rent) Act 2022 - after criticism of unfair and escalating ground rents, now outlawed
• The Leasehold and Freehold Reform Act 2024 following Law Commission Recommendations for simplifying lease extension procedures and unify with freehold enfranchisement and the effect on The Leasehold Reform, Housing and Urban Development Act 1993
• Land Registry requisitions commonly raised on lease extension applications and how to avoid them
• Land Registry guidance and your application to register, including what to do about your client's mortgage on the existing leasehold title
• The application form and what are reasonable costs, checking qualification and starting the process
• Assessing the premium payable, collecting information and establishing the finance
• Preparing the tenant's notice, common errors, the deposit, the landlord's counter-notice, assignment of the application, personal representatives, absent landlords
• Terms of the new lease, procedures and statutory time limits
• Informal extensions by agreement outside of the Act
• The Leasehold Reform (Amendment) Act 2014
• Illustrative cases

This pre-recorded webinar will be available to view from Thursday 19th June 2025

Alternatively, you can gain access to this webinar and 1,700+ others via the MBL Webinar Subscription. Please email webinarsubscription@mblseminars.com for more details.