Extend your lease

On completion, 90 years will be added to the current unexpired term of your lease.

Your new lease will include:

• a peppercorn rent (no rent) for the whole of the term (90 years plus your unexpired term)
• the landlord's redevelopment right

The landlord's redevelopment right gives the landlord the right to repossess the flat if redevelopment is needed.

This right does not start until the end of the term of the existing lease. For example, after 125 years if that's the original length of the lease.

The landlord must apply for this right in court. If a court allows it, the landlord must compensate the leaseholder for the full value of the remaining 90 years.

Terms

The extended lease will be on the same terms as the existing lease (subject to minor modifications and certain legal exclusions and additions).

Modifications 

As part of your voluntary lease extension application we'll:

• take account of any alterations made to the flat since the lease was granted
• remedy a defect in the lease

If you've altered the property a new lease plan may be required.

You would have to apply for (retrospective) permission at your cost.

We'd only be able to proceed with the lease extension once your alterations application is completed. 

Exclusions 

Law changes now give a right to perpetual renewal of the lease. 

Therefore any existing clauses relating to renewal, pre-emptions or early termination are excluded (no longer apply).

Additions 

This clause prevents the granting of a sub-let (of a certain term) which may allow the person sub-letting a right to a new lease under current legislation.