Hounslow Lease Extensions

Living in Hounslow:

Hounslow is known for its proximity to Heathrow Airport and is often labelled London’s international gateway.

Aside from its excellent transport links and diverse population, the borough also offers a harmonious mix of greenbelt villages with historical landmarks, modern housing estates and vibrant cosmopolitan areas like Chiswick.

Hounslow has received a substantial £18.5 million investment from the Mayor of London, paving the way for constructing thousands of new homes in the town centre by 2025. Many of these homes will likely be for sale on a leasehold basis.

If you are local to the Hounslow area and want to extend your lease, continue reading to find out what this process entails.

• Population in Hounslow: The Office For National Statistics reported that the population of Hounslow is around 288,200 (2021). This statistic is a massive 13.5% increase from 254,000 residents in 2011.
• House Prices in Hounslow: Rightmove statistics show that properties in Hounslow had an overall average price of £513,443 over the last year, exceeding the previous year by 8%.
• Districts in Hounslow: Chiswick, Brentford, Isleworth, Hounslow, Feltham.
• Local Authority: The local authority in the London Borough of Hounslow is Hounslow Council.

Lease Extension Regulations in Hounslow

If you own a flat or maisonette in Hounslow, you have a statutory right to extend your lease by an additional 90 years.

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

Hounslow Council is a prominent freeholder in the Hounslow area, and they advocate for the formal, statutory procedure as laid out in the Leasehold Reform Housing and Urban Development Act 1993. This information is stated on their ‘Lease Extensions’ page.

If you’re unsure how to approach a statutory lease extension, seek independent legal advice from The Lease Extension Company.

As shown in our case studies, our team of surveyors and solicitors have tackled numerous lease extensions and is experienced in this rather complex area of property law.

The Lease Extension Process

See below for a summary of the statutory lease extension procedure.

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

Please read through our helpful ‘How Long Will My Lease Take?’ article for further details.

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 must be 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 find out more details about freeholders in Hounslow, see below.

Key Freeholders in Hounslow:

The main freeholder in Hounslow is Hounslow Council. They preside over many ex-council properties and are working on a 5000 pledge to deliver new homes. Two thousand of these homes are reserved for shared ownership and other affordable housing.

Housing associations such as A2Dominion, L&Q and Latimer Homes are prominent in the area. If your property is managed by one of these companies, they may act as your competent landlord.

Please note that shared ownership leaseholders only qualify for the statutory right to extend their lease if they have ‘staircased’ up to 100% ownership.

Other freeholders you have the option of contacting are Solitaire Holdings and Management and E&J Estates.

Finding Your Freeholder:

The name and address of your freeholder are recorded in your lease.

If you do not have a copy of your original 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 cost of each lease extension varies from property to property; however, 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 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 premium use our helpful Lease Extension Calculator tool.

About The LEC’s Simple Fixed Fee Service

The Lease Extension Company is altering the typical lease extension process by making it as clear and straightforward as possible for our clients.

We will develop a detailed plan covering all stages, legal requirements, and expected costs. Then, all expenses are consolidated into a transparent fixed fee, so you know exactly where your money is going.

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

Begin a Lease Extension in Hounslow Today.

To preserve and potentially increase the value of your property, consider extending your lease with The Lease Extension Company today.

Speak with the LEC team by completing our convenient online form, calling us on 0800 098 2770 or emailing [email protected].