Enfield Lease Extensions

Living in Enfield:

London’s northernmost borough is Enfield, located just above Charing Cross.

In the 16th century, the area was one of Henry VIII’s favoured hunting estates. Remarkably, even today, two-thirds of Enfield comprises expansive green spaces, including parklands, farms, and fields!

The homes in Enfield offer gorgeous period housing with traditional Victorian and Georgian features at an affordable price, with property prices below the London average.

Located just a 30-minute commute from Liverpool Street, Kings Cross, and St Pancras, Enfield offers respite from the bustle of the capital.

• Population: Enfield has experienced a notable increase in population size, with a growth of 5.6% between 2011 and 2021. Presently, the population stands at 330,000 individuals.
• Places in Enfield: Arnos Grove, Botany Bay, Bowes Park, Brimsdown, Bulls Cross, Bush Hill Park, Clay Hill, Cockfosters, Crews Hill, Edmonton, Enfield Chase, Enfield Highway, Enfield Island Village, Enfield Lock, Enfield Town, Enfield Wash, Forty Hill, Freezywater, Grange Park, Hadley Wood, New Southgate, Oakwood, Palmers Green, Ponders End, Southgate, Winchmore Hill, World’s End.
• Local Authority: The local authority for the London Borough of Enfield is Enfield Council.

Lease Extension Regulations in Enfield

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

Usually, you have the option to carry out this procedure formally or informally.

According to Enfield Council’s ‘Leaseholder’ web page, leaseholders are encouraged to take either route.

However, suppose you have owned your property for at least two years. In that case, we recommend the statutory (formal) route because it offers valuable legal protection under the Leasehold Reform, Housing and Urban Development Act 1993.

The council’s website also provides an overview of what leaseholders can expect to encounter when taking either path with the council.

Fortunately, The Lease Extension Company is proficient in formal and informal lease extensions, particularly within London, as shown in our record of case studies.

Using our professional experience and knowledge of your borough, we will develop a successful plan tailored to your needs.

The Lease Extension Process

See below for a step-by-step overview of the lease extension procedure.

• 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 details 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 Enfield:

The most prominent freeholder in Enfield is Enfield Council.

As stated on their ‘Leaseholders’ page, the council outsource their administration work to Ambercycle Consulting. However, the council retains complete control over the decision to grant extensions.

To ensure all leaseholders are kept informed with confirmations and important emails, the council advises adding [email protected] to your safe senders.

How Much Will Your Lease Extension Cost?

The cost of each lease extension is different because it is based on the circumstances of each property.

The following factors determine the costs:

• 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 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.

To help estimate your costs, we have developed a useful Lease Extension Calculator tool to gauge your premium.

Our Fixed Fee Service

The Lease Extension Company is transforming the typical lease extension process by making it as clear and transparent as possible.

To do this, we provide clients with a detailed plan that covers all stages, legal requirements, and predicted costs which are consolidated into one money-saving fixed fee.

This approach ensures you know exactly where you stand and where your money goes.

You’ll also receive the professional guidance of an experienced surveyor and solicitor who will guide you through the process, ensuring you do not pay a penny more than necessary for your lease extension.

Start your Enfield Lease Extension Today.

By extending your lease with us, you can safeguard the value of your property and enhance its worth in the process.

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