Hackney Lease Extensions

Living in Hackney:

Hackney has seen enormous regeneration over the last few decades, transforming it into a vibrant and exciting hub of arts, culture and nightlife.

Despite its edgy reputation, Hackney has deep historical roots. The earliest settlement is thought to have been in the Saxon era, existing mainly as rural farmland.

By the Industrial Revolution, Hackney’s population grew exponentially, and its large houses and proximity to the city made it the perfect place for bankers and merchants to set up home.

Today, the London Borough of Hackney features a mix of historic terrace houses and new-build properties, many of which may require a lease extension in the near future.

• Population: The Office for National Statistics reported that Hackney’s population has increased by 5.3%, from around 246,300 in 2011 to 259,200 in 2021.
• Neighbourhoods in Hackney: Dalston, De Beauvoir Town, Finsbury Park, Hackney, Hackney Central, Hackney Downs, Hackney Marshes, Hackney Wick, Haggerston, Homerton, Hoxton, Kingsland, Lea Bridge, London Fields, Lower Clapton, Manor House, Newington Green, Shacklewell, Shoreditch, South Hackney, Stamford Hill, Stoke Newington, Upper Clapton, West Hackney.
• Local Authority: The local authority of The London Borough of Hackney is Hackney Council.

Lease Extension Regulations in Hackney

Leaseholders in Hackney have a statutory right to extend their lease by an additional 90 years – you can accomplish this formally or informally.

However, the statutory (formal) route is recommended if you have owned your property for at least two years because it offers legal protection.

Hackney Council favours the statutory route set out in the Leasehold Reform, Housing and Urban Development Act 1993. This information is available on their website’s ‘Extending Your Lease’ section and in their dedicated ‘Guide for Leaseholders’.

For a successful lease extension, seek independent legal advice. The Lease Extension Company has executed many formal lease extensions in and around London, evidenced by our case studies.

We can provide a professional surveyor and experienced legal guidance to ensure you pay the fairest premium possible.

The Lease Extension Process

See below for a summary of the statutory lease extension procedure. Our team is happy to answer any questions and support you throughout the process.

• Eligibility Check
• Valuation
• Serving the Section 42 Notice
• Receipt of the Section 45 Counter Offer
• Negotiation
• Agreement of Terms
• Registration of your new lease

For further information, please read our detailed ‘How Long Will My Lease Take?’ article.

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 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’ 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’s imperative that it’s 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. The Section 42 notice will be sent to you for approval before it is forwarded to the solicitors who will serve the notice to the Freeholder on your behalf.

To locate your freeholder in Hackney, continue reading below.

Key Freeholders in Hackney:

The main freeholder in Hackney is Hackney Council. The council owns many ex-council properties and, since 2011, has made a conscious effort to create more affordable housing in the borough.

Their in-house building programme, Hackney Homes, provides a mix of leasehold, shared-ownership and rented properties.

You can find the complete list of property developments on their ‘Building New Council Homes’ website page. Either Hackney Council or Hackney Homes may act as your competent landlord.

Please note that if you’re a shared ownership leaseholder, you will only qualify for the statutory right to extend your lease if you have ‘staircased’ up to 100% ownership.

Other freeholders you have the option of contacting are The Alan Mattey Group and E&J Estates.

Finding Your Freeholder:

The name and address of your freeholder will be listed in your lease 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. As a LEC client, we can assist you with this at the start of the process.

How Much Will Your Lease Extension Cost?

The price of a lease extension will vary from property to property; however, the cost is based on factors such as:

• 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 estimate your costs, we have developed a helpful Lease Extension Calculator to help you plan.

About Our Simple Fixed Fee Service

The Lease Extension Company is committed to transforming the complex lease extension process by making it as straightforward as possible.

We will develop a detailed plan covering all stages, legal requirements, and expected costs. Then, all expenses are consolidated into a transparent fixed fee, giving you a clear understanding of what to expect from the beginning.

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

Commence Your Hackney Lease Extension Today.

If you would like to begin a lease extension on your Hackney property, choose The Lease Extension Company to support you throughout.

Get a quote and speak with our excellent solicitors and surveyors by completing our convenient online form, calling us on 0800 098 2770 or emailing [email protected].