Camden Lease Extensions

Living in Camden:

The London Borough of Camden resides in the inner region of the capital city and hosts many of London’s finest tourist attractions.

Camden also boasts plenty of enterprise opportunities. It’s home to London’s second-highest number of businesses, closely following the borough of Westminster.

The borough is also brimming with culture, evidenced by 162 English Heritage blue plaques installed across Camden to honour the influential figures who have lived and worked in the area.

• Housing: The latest 2021 Census data states that flats, maisonettes and apartments account for a whopping 84% of accommodation in the borough. These properties are either purpose-built or converted from a house or other building.
• Neighbourhoods in Camden: Belsize Park, Bloomsbury, Camden Town, Chalk Farm, Covent Garden, Dartmouth Park, Fitzrovia, Fortune Green, Frognal, Gospel Oak, Hampstead, Haverstock, Highgate, Holborn, Kentish Town, Kings Cross, Primrose Hill, St Giles, St Pancras, Somers Town, South Hampstead, Swiss Cottage, Tufnell Park, West End of London, West Hampstead.
• Local Authority: The local authority of the London Borough of Camden is Camden Council.

Lease Extensions in Camden

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

Generally, this procedure can be conducted formally or informally. However, if the freeholder of your property is Camden Council, you will need to take the formal, statutory route.

On its ‘Lease Extensions and Purchasing the Freehold’ website, the council explicitly states that it does not issue informal, voluntary lease extensions.

Although the statutory route may appear daunting, it has significant advantages because both parties must abide by the Leasehold Reform, Housing and Urban Development Act 1993.

The lease extension will be regulated and have strict deadlines instructing the council to respond, guaranteeing a fair and legal process.

The Lease Extension Company has helped complete many lease extensions in Camden and other areas in and around London. To see a snapshot of these results, view our client case studies.

The Lease Extension Process

Since Camden Council strictly adheres to the formal route, the following steps will provide an outline of a statutory lease extension:

• 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

We highly recommend reading our ‘How Long Will My Lease Take?’ article for further details of each step in extending your lease.

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 Camden:

Camden Council owns many properties in The London Borough of Camden, so this will likely be your freeholder.

The council has its own dedicated Leaseholder Services department to manage leasehold matters.

To extend your lease, you or your solicitor will converse with the Leasehold Admin team, who handles lease extensions. This information is outlined on the council’s ‘Information for Leaseholders’ page.

Finding your Freeholder

Your freeholder is documented 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?

Lease extension costs differ across Camden because they are calculated based on the unique conditions of your property.

When calculating the premium, several key factors are taken into consideration, including:

• 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.

In the case of a statutory lease extension, you will also be responsible for your and your freeholder’s valuation and legal costs.

Please take advantage of our helpful Lease Extension Calculator tool to give you an estimate of your costs.

Our Money-saving Fixed Fee Service

The Lease Extension Company gives clients a detailed plan that covers all stages, legal requirements, and expected costs.

This is particularly valuable for Camden residents taking the statutory route, as they will be responsible for covering their legal fees and those of the freeholder.

We consolidate all expenses into a transparent fixed fee payment so that no hidden charges will crop up later down the line.

You’ll also receive the support of a specialist surveyor and solicitor familiar with this niche area of property law.

This extra care will ensure a smooth procedure and guarantee you only pay what is necessary for your lease extension.

Begin your Camden Lease Extension Today.

For a straightforward, stress-free lease extension in Camden, contact The Lease Extension Company.

Get a quote or arrange a free consultation by completing our convenient online form, calling us on 0800 098 2770 or emailing [email protected].

Our team looks forward to working with you!