Manchester Lease Extensions

Life in Manchester:

Manchester is a thriving metropolis in the North of England. It became the first industrialised city when its textile manufacturing boomed in the late 18th century. Since then, the city has become known as a melting pot of culture, history, industry, and innovation.

The city has an urban sprawl layout that expands from the centre into the surrounding neighbourhoods. Plus, high-rise new-builds are regularly cropping up in the skyline, offering more residential opportunities.

A lease extension may be necessary if you are a property owner in this area. The Lease Extension Company is ready to assist you with our specialised location guide and outstanding lease extension services.

• Population of Manchester: Between the 2011 and 2021 censuses, the population increased by 9.7%, from just over 503,100 to around 551,900 (ONS).
• Average House Price: Properties around Manchester had an overall average price of £290,431 over the last year (Rightmove).
• Neighbourhoods in Manchester: Ancoats and Beswick, Ardwick, Baguley, Brooklands, Burnage, Charlestown, Cheetham, Chorlton, Chorlton Park, Deansgate, City Wide, Crumpsall, Didsbury East, Didsbury West, Fallowfield, Gorton and Abbey Hey, Harpurhey, Higher Blackley, Hulme, Levenshulme, Longsight, Miles Platting and Newton Heath, Moss Side, Moston, Northenden, Old Moat, Piccadilly, Rusholme, Sharston, Whalley Range, Withington, Woodhouse Park.
• Local Authority: The local authority of Manchester is Manchester City Council.

Lease Extensions in Manchester:

If you’re a leaseholder in Manchester, you have a statutory right to extend your lease by an additional 90 years. There are two ways to gain a lease extension: the informal (voluntary) route or the formal (statutory) route.

Manchester City Council has a dedicated ‘Leasehold Advice’ page; however, it doesn’t provide a preferred lease extension method. Instead, the council directs leaseholders to the government’s ‘The Leasehold Advisory Service’.

The Leasehold Advisory Service acknowledges both informal and formal lease extensions; however, it points out that in the informal process, there are no rules, and your landlord could refuse to extend your lease or set whatever terms they like.

For this reason, and with our wealth of expertise, we advise Manchester leaseholders to proceed with the statutory route if they have owned their property for at least two years. This procedure will give considerable protection under the Leasehold Reform, Housing and Urban Development Act 1993.

To receive independent support from skilled surveyors and experienced solicitors, seek help from The Lease Extension Company. You can review our impressive case studies collection to review our past achievements.

The Lease Extension Process

See below for an overview of the statutory lease extension procedure.

• Eligibility Check
• Valuation
• Serving the Section 42 Notice
• Receipt of the Section 45 Counter Offer
• Negotiation
• Agreement of Terms
• Registration of your new lease

Please visit our ‘How Long Will My Lease Take?’ article for more information surrounding each step.

Serving the Section 42 Tenant’s Notice

Before the important 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.

Learn more about freeholders in Manchester below.

Key Freeholders in Manchester:

One of the main freeholders in Manchester is Manchester City Council, so it is highly likely that they may be your competent landlord.

Numerous housing associations also operate in the area. For example, Manchester Move is a collaborative initiative between Manchester City Council and non-profit housing providers. They have compiled ‘The Manchester Housing Register list of landlords, including Arcon Housing Association, Jigsaw Homes North and One Manchester. There’s a chance one of these Registered Providers may be your competent landlord.

Finding Your Freeholder:

The details of your Freeholder are cited in your lease document. If you do not have your original document, you can request a copy from the HM Land Registry for a small fee. As a LEC client, we can happily 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 the following individual factors:

• 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 your expenses, use our handy Lease Extension Calculator to gauge your premium.

About The Lease Extension Company’s Fixed Fee Service

At The Lease Extension Company, we take a fuss-free approach to this complex area of property law. We’ll develop a detailed plan covering all stages, legal requirements and expected costs combined into one simple fixed fee.

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.

Begin Your Lease Extension in Manchester.

Are you hoping to extend your lease and add value to your property? Look no further than The Lease Extension Company for the support you need. We’re more than happy to help.

Get a quick quote or arrange a free consultation with our team by filling out our handy online form, calling us on 0800 098 2770 or emailing [email protected].