Poole Lease Extensions

Living in Poole:

Closely linked to Dorset and the UNESCO World Heritage Jurassic Coast, the seaside town of Poole has a high degree of tourism and a large residential population. It’s also home to the second largest natural harbour in the world, rivalled only by the iconic Sydney Harbour in Australia.

Visit the historic waterfront area to enjoy delightful cafes, partake in watersports and explore The Lighthouse, the most prominent arts centre beyond London. For a luxurious experience, visit the affluent Sandbanks and witness breathtaking views and glistening beaches.

Whether you reside in Parkstone or Canford Cliffs, a lease extension could benefit you as a leaseholder. Here is all you need to know about Poole lease extensions.

• Population: The most recent census of 2021 revealed that Poole had a population of 140,977 (Office for National Statistics).
• Average House Price: According to Rightmove data, properties in Poole had an overall average price of £466,169 over the last year. This was 11% higher than the sold prices of the previous year.
• Suburbs in Poole: Alderney, Ashington, Bearwood, Branksome, Branksome Park, Broadstone, Canford Cliffs, Canford Heath, Creekmoor, Fleetsbridge, Hamworthy, Longfleet, Merley, Oakdale, Parkstone, Rossmore, Stanley Green, Sterte, Turlin Moor, Wallisdown.
• Local Authority: The local authority is Bournemouth, Christchurch and Poole Council (BCP Council). It became a unitary authority area in April 2019.

Lease Extension Regulations in Poole:

If you own a leasehold property in Poole, you can extend your lease by an additional 90 years. This procedure can be carried out formally or informally.

At the LEC, we often advise clients who have owned their property for at least two years to opt for the statutory (formal) route because it offers extra legal protection under the Leasehold Reform Housing and Urban Development Act 1993.

Currently, the BCP Council only offer statutory lease extensions. A Section 42 notice must be served on their legal team to initiate the procedure. This information is available on their ‘Council Housing Leasehold Services in Poole’ webpage.

To ensure your lease extension is valid and runs smoothly, the LEC will provide you with expert surveyors and solicitors to fill out your application accurately and serve the required notices on your behalf. They will continue to negotiate the cheapest premium and the fairest lease terms for your property. If you want to see the results we’ve achieved for our previous clients, please view our wide range of case studies.

The Lease Extension Process

Learn more about the statutory lease extension process with this step-by-step overview.

• 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 read through our ‘How Long Will My Lease Take?’ article to find further information.

Serving the Section 42 Tenant’s Notice

Before your Section 42 notice is drafted, one of our firms of specialist chartered surveyors will undertake the valuation of your property for 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 niche area of law, ensuring that your notice is drafted and reviewed by leading experts in this field. This document will be sent to you for approval before it is forwarded to the solicitors who will serve the Section 42 notice to the Freeholder on your behalf. Read on to discover the key freeholders in Poole.

Key Freeholders in Poole:

The council’s housing stock in Poole is managed by the Poole Housing Partnership (PHP). PHP is linked with the BCP Council but operates as a separate non-profit company. Their leasehold stock consists of around 548 properties. This information is available in the ‘BCP Housing Strategy 2021-2026’. If you reside in one of these houses, Poole Housing Partnership or BCP Council could serve as your competent landlord.

Several non-profit housing providers, including Aster, BCHA and Pivitol, also operate in the area. The complete list of registered providers can be found on the council’s ‘Housing Associations’ webpage for reference. One of these organisations may be your competent landlord.

Finding your Freeholder:

Your freeholder is detailed in your original leasehold agreement. If you do not have a copy of your lease, you can request a duplicate from the HM Land Registry for a small fee. Alternatively, The Lease Extension Company can organise this for you at the beginning of your procedure.

How Much Will Your Lease Extension Cost?

The price of a lease extension varies for each property because it depends on the following factors:

• The value of your property.
• The amount of ground rent you pay and how much it increases over time.
• The number of years remaining on your lease.

The cost can also depend on your route to acquire 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.

Turn to our Lease Extension Calculator tool and roughly predict your expenses.

About The LEC’s Simple Fixed Fee Service

The Lease Extension Company strives to transform the typical lease extension process by making it as transparent as possible. Our approach involves developing a detailed plan covering all stages, legal requirements and expected costs.

For peace of mind, all expenses are consolidated into a straightforward fixed fee, giving you a clear understanding of what to expect from the very beginning. You will also receive professional support from an experienced surveyor and solicitor who will guide you through the process, ensuring you only pay what is necessary for your premium.

Get a Quote for a Lease Extension in Poole.

Arrange a free consultation with The Lease Extension Company to discuss your circumstances –we would love to hear from you.

Contact us by completing our simple online form, calling us on 0800 098 2770 or emailing [email protected].