Barking and Dagenham Lease Extensions

Living in Barking and Dagenham

The London Borough of Barking and Dagenham is a well-connected area on the outskirts of East London.

Less than an hour from the central city, this suburban location was once known for its industrial endeavours in the automobile industry. Now the area is the focus of regeneration, with a growing arts quarter and public park refurbishments.

Former factories have transformed into London’s largest film studio, with the area becoming the backdrop for music videos, fashion campaigns and blockbuster films.

Barking and Dagenham reflected the developing area by supporting residents with a large portion of leasehold and shared ownership opportunities.

• Average House Price: Barking and Dagenham have the lowest house prices in London, with the average home costing £350,000 – making it ideal for first-time buyers hoping to get on the property ladder.
• Getting Around: Located in Zone 4, Barking and Dagenham is well connected by the London Overground, London Underground and National Rail services.
• Neighbourhoods in Barking and Dagenham: Barking Riverside, Becontree, Becontree Heath, Castle Green, Chadwell Heath, Creekmouth, Dagenham, Dagenham Riverside, Marks Gate, Rush Green, Thames View, Upney.
• Local Authority: The local authority is the London Borough of Barking and Dagenham.

Lease Extension Regulations in Barking and Dagenham

If you own a leasehold flat in a neighbourhood of Barking and Dagenham, you can extend your lease by an additional 90 years.

This procedure can be achieved formally or informally. Nevertheless, the statutory (formal) route is recommended if you have owned your property for at least two years because it offers legal protection.

The London Borough of Barking and Dagenham council’s ‘Leaseholder Queries’ page suggests that leaseholders should follow the formal procedure defined in the Leasehold Reform, Housing and Urban Development Act 1993.

Please note that a shared ownership leaseholder of a flat only qualifies for the statutory right to extend their lease if they have ‘staircased’ up to 100% ownership.

The Lease Extension Company has executed many successful statutory lease extensions in and around London, evidenced by our case studies.

We can provide a professional surveyor and experienced legal guidance. Our expertise will ensure the smoothest procedure, the cheapest premium and the fairest lease terms for your property.

The Lease Extension Process

See below for an overview of the lease extension procedure.

Although this outline can look overwhelming, our team will be on call to answer questions and support you throughout the process.

• Eligibility Check
• The Initial Consultation
• Determine which path to choose: the statutory (legally protected) or the informal (direct) route.

The Stages of the Statutory (Legally Protected) Route:

• Valuation
• Serving of the Section 42 Notice
• Receipt of the Section 45 Counter Offer
• Negotiation
• Agreement of Terms
• Potential Involvement of the Courts

Please view our detailed ‘How Long Will My Lease Take?’ article for more information about each step.

Serving the Section 42 Tenant’s Notice

Before your Section 42 notice is draft one of our firms of specialist chartered surveyors will undertake the valuation of 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 is the 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 certain key legal information. This is a technical legal notice, and it is imperative that it is correctly drafted and validated to ensure your lease extension is deemed valid.

At The Lease Extension Company, by working with the leading specialist legal firms in this very niche area of law we can ensure your notice is drafted and reviewed by the leading experts in this field of law before it is sent for your approval ahead of the solicitors serving Section 42 notice on your behalf to the Freeholder.

Key Freeholders in Barking and Dagenham

One of the main freeholders in the area is The London Borough of Barking and Dagenham Council.

Council properties are their primary responsibility; however, there is a push to build new homes as part of the regeneration effort.

For instance, the council works with the housing provider, B&D Reside, to provide affordable, shared-ownership housing.

Barking Riverside Limited is also in the process of delivering new homes at Barking Riverside, backed by L&Q Homes – a housing association and landlord.

Finding your Freeholder

Your freeholder is detailed in your lease. If you do not have your lease document, you can request a copy from the HM Land Registry for a small fee.

How Much Will Your Lease Extension Cost?

Before tackling a lease extension, it’s essential to weigh up all of the potential costs.

Lease extension premiums are based on the following:

• 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.

Costs can also depend on the route you take 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 costs, use our helpful 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, straightforward approach to this problematic area of property law.

We will develop a detailed plan covering all stages, legal requirements, and your expected costs.

We combine all costs into one simple fixed fee, so you know what to expect from the get-go.

You’ll also receive the professional guidance of an experienced surveyor and solicitor to ensure you’re not paying a penny more for your lease extension (premium) than necessary.

Initiate Your Lease Extension Today.

Are you eager to extend your lease in Barking and Dagenham? We’d love to hear from you.

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