Brent Lease Extensions

Living in Brent:

The London Borough of Brent is located in London’s outer North West region.

Historically, Brent consisted of several small villages and hamlets, believed to have been inhabited since prehistoric times.

However, through regeneration efforts and the influence of diverse cultures within the community, Brent has transformed into a large, vibrant, and diverse place to live. As a result, it has become an attractive destination for families and working professionals seeking a dynamic living environment.

In Brent, you will also find the magnificent landmark of Wembley Stadium. It holds the title as the largest capacity venue in the country, which hosts incredible football matches and the most in-demand live music events.

• Housing: The bulk of sales in Brent during the last year were flats, selling for an average price of £493,717. Many of these will be leasehold properties requiring a lease extension to retain this property value.
• Areas in Brent: Alperton, Brent Park, Brondesbury, Brondesbury Park, Church End, Cricklewood, Dollis Hill, Harlesden, Kensal Green, Kenton, Kilburn, Kingsbury, Neasden, North Wembley, Park Royal, Preston, Queen’s Park, Queensbury, Stonebridge, Sudbury, Tokyngton, Wembley, Wembley Park, Willesden, Willesden Green.
• Local Authority: The local authority is The London Borough of Brent Council.

Lease Extension Regulations in Brent

If you own a leasehold flat in Brent, you can extend your lease by an additional 90 years.

This procedure can be carried out either formally or informally. However, if you have owned your property for at least two years, the statutory (formal) route offers beneficial legal protection under the Leasehold Reform, Housing and Urban Development Act 1993.

In Brent, many leasehold properties are owned and managed by Brent Council.

As laid out on their ‘Managing Your Lease’ page, the council states that leaseholders must serve the Brent Home Ownership Team with a formal notice and follow a structured, legally bound procedure.

If you are a shared owner, you cannot follow the formal process, yet, you may be able to come to an informal agreement by negotiating with the Leasehold Team.

Fortunately, The Lease Extension Company is well-experienced in formal and informal procedures in and around London, evidenced by our client case studies.

Whatever your situation, rely on our professional advice to guide and support you through the most appropriate route.

The Lease Extension Process

See below for a step-by-step outline of the lease extension 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

If you would like further information, please read our helpful ‘How Long Will My Lease Take?’ article.

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 Brent:

Brent Council is one of the main freeholders in The London Borough of Brent.

It manages approximately 4,000 leasehold properties in the area under the company ‘Brent Housing Management’.

The Section 42 notice will likely be served to either of these two parties.

Finding your Freeholder

Your freeholder will be registered on your original lease agreement document.

If you cannot locate your lease document, you can request a copy from the HM Land Registry for a small fee.

How Much Will Your Lease Extension Cost?

The costs associated with each procedure may differ; however, they are primarily based 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.

Costs can also depend on your path to attaining 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.

We have also created a helpful Lease Extension Calculator to assist you in estimating your premium. Use this tool to give you a rough idea of your costs and help you to plan accordingly.

About Our Fixed Fee Service

The Lease Extension Company aims to revolutionise the standard lease extension procedure by making it as clear and straightforward as possible.

To do this, we will develop a detailed plan that outlines all stages, legal requirements, and anticipated costs which are consolidated into a fixed fee.

With a fixed fee, there are no surprises or metre-running charges, giving you peace of mind throughout the process.

You’ll also receive the professional guidance of our experienced surveyor and solicitors, who will ensure you do not pay more than necessary for your lease extension premium.

Get a Quote for your Brent Lease Extension Today.

To protect the value of your property in Brent, get a quote and arrange a consultation with The Lease Extension Company.

Simply complete our convenient online form, call us on 0800 098 2770 or email [email protected].