Leeds Lease Extensions
Life in Leeds:
The historic city of Leeds is the largest in Yorkshire. Records of Leeds can be traced back to 730 AD when it was a forested area known as ‘Loidis’. It’s a welcoming, culturally vibrant metropolis, with nearly 22% of its total land area covered by lush green space for residents to relax and enjoy.
As is typical in many large historical cities, Leeds boasts a diverse range of architectural styles. Notably, the city is home to a significant amount of older housing, including approximately 19,500 pre-1919 ‘back-to-back’ houses still in use today.
Meanwhile, the city centre is transforming with ongoing redevelopment projects, including constructing high-rise buildings and modern housing, adding a contemporary touch to its architectural landscape.
If you’re a leaseholder in Leeds, your property may require a lease extension. View this location guide to understand how this procedure works in your area.
- Population of Leeds: Between the last two censuses (2011 and 2021), the population of Leeds increased by 8.0%, from around 751,500 to around 812,000. The city is the second largest local authority area in terms of population – second only to Birmingham.
- Average House Prices in Leeds: Properties in Leeds had a general average price of £251,169 over the last year (Rightmove).
- Wards in Leeds: Adel & Wharfdale, Alwoodley, Ardsley & Robin Hood, Armley, Beeston & Holbeck, Bramley & Stanningley, Burmantofts & Richmond Hill, Calverly & Farsley, Chapel Allerton, Crossgates & Whinmoor, Farnley & Wortley, Garforth & Swillington, Gipton & Harehills, Guiseley & Rawdon, Harewood, Headingley & Hyde Park, Horsforth, Hunslet & Riverside, Killingbeck & Seacroft, Kippax & Methley, Kirkstall, Little London & Woodhouse, Middleton Park, Moortown, Morley North, Morley South, Otley & Yeadon, Pudsey, Rothwell, Roundhay, Temple Newsam, Weetwood, Wetherby.
- Local Authority: The local authority of Leeds is Leeds City Council.
Lease Extensions in Leeds:
Leaseholders have a statutory right to extend their leases by an additional 90 years. You will usually have the option to extend your lease either by the informal (voluntary) route or the formal (statutory) route.
At The Lease Extension Company, we often advise leaseholders to take the statutory route because it gives significant protection under the Leasehold Reform, Housing and Urban Development Act 1993. Leeds City Council also favours this type of procedure, stating that leaseholders must serve a formal notice on the council. This information is available on the council’s ‘Leaseholders – rights and responsibilities’ webpage.
Receive support from skilled surveyors and experienced solicitors by working with The LEC. Explore our impressive collection of case studies to review our past client achievements.
The Statutory Lease Extension Process
The following is an overview of the statutory lease extension procedure.
- Eligibility Check
- Serving the Section 42 Notice
- Receipt of the Section 45 Counter Offer
- Agreement of Terms
- Registration of your new lease
For further information, please visit our ‘How Long Will My Lease Take?’ article for more details.
Serving the Section 42 Tenant’s Notice
Before your Section 42 notice is drafted, one of our firms of specialist chartered surveyors will value your property for the purpose of the lease extension and identify the likely ‘premium’ (the price of your lease extension) you will pay your freeholder.
Identifying Your Competent Landlord
Our specialist solicitors will also identify the ‘competent landlord’ whose interest in the property is long enough to grant your 90-year lease extension.
Sometimes, this will be the direct landlord or housing management to whom you pay your service charge or ground rent. However, the competent landlord is often the freeholder of the building.
The Leasehold Reform Housing and Urban Development Act 1993 requires leaseholders to serve a Tenant’s Notice (Section 42 notice) on the ‘competent landlord’.
The Section 42 notice commences the lease extension and must include specific legal information. This is a technical legal notice, and it must be correctly drafted and validated to ensure your lease extension is deemed valid.
At The Lease Extension Company, we work with specialist legal firms in this specific area of law, ensuring that your notice is drafted and reviewed by leading experts in this field. The Section 42 notice will be sent to you for approval before it is forwarded to the solicitors, who will serve the notice to the Freeholder on your behalf.
Key Freeholders in Leeds:
The most prominent freeholder in Leeds is the Leeds City Council. The council has also committed to building 1,500 new houses by 2025. With such a high regional presence, the council will likely be your competent landlord.
The council have also partnered with housing providers to create Leeds Homes. This initiative links house hunters with affordable housing and shared ownership opportunities via organisations such as Home Group, Unity and Leeds and Yorkshire Housing Association.
The complete index of registered providers is listed on their website’s ‘Other Options and Support’ section. One of these organisations may act as your competent landlord.
Please be aware that property owners with a shared ownership agreement will only qualify for the statutory right to extend their lease if they have ‘staircased’ up to 100% ownership.
Finding Your Freeholder:
Your freeholder’s contact information is contained in your original lease document. If you do not have this document, you can request a copy from the HM Land Registry for a small fee. As a LEC client, we can arrange this on your behalf.
How Much Will Your Lease Extension Cost?
Lease extension premiums vary from property to property because they are based on individual factors, including the following:
- The value of your property.
- The amount of ground rent and how much it increases over time.
- The number of years remaining on your lease.
Costs can also depend on the route to obtain your lease extension.
- Informal Lease Extensions: Costs are determined and agreed upon directly with your freeholder.
- Statutory Lease Extensions: You are responsible for the valuation and legal costs of both you and your freeholder, plus the premium for the additional years on your lease.
If you’re curious about costs, turn to our handy Lease Extension Calculator to estimate your premium.
About The Lease Extension Company’s Fixed Fee Service
At The Lease Extension Company, we take a simple approach to this complex area of property law. We’ll develop a detailed plan covering all stages, legal requirements and expected costs. All costs will be combined into one straightforward fixed fee, so you know what to expect from the very beginning.
You’ll also receive the guidance of an experienced surveyor and solicitor to ensure you’re not paying a penny more for your premium than necessary.
Get a Quote For Your Leeds Lease Extension
Take the first steps towards your lease extension by acquiring a quote or arranging a free consultation with our team. To do this, simply fill out our handy online form, call us on 0800 098 2770 or email [email protected], and we will discuss your circumstances.
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What Our Clients Say
"Thank you so much for your help. You made what at first appeared like a big daunting and expensive task, simple, easy to understand and almost fun!"
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"Thank you for helping with our freehold. Everyone has been very helpful and friendly even our surveyor and lawyer were very friendly and got things done quickly."
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