Newham Lease Extensions
Life in Newham:
The Newham area was once simply known as ‘Ham’. It is first registered as ‘Hamme’ in an Anglo-Saxon charter of 958 and again in the 1086 Domesday Book as ‘Hame’. The boundaries of the original settlement were formed by the rivers Lea, Thames, Roding and their marshes.
With its proximity to water, Newham became best known for its historic London Docklands. These docks were built in the 1850s and stretched across the entire borough, making it the biggest dockland in the UK.
Even today, the area still showcases many of its original industrial buildings. Regeneration efforts, such as the improvements made during the 2012 London Olympics, have only contributed to boosting its popularity and growth.
- Population: Office for National Statistics data shows that Newham’s population increased by around 43,100 between the last two censuses (taken in 2011 and 2021).
- Housing: Newham is one of the most affordable boroughs in the capital, with housing approximately 16% lower than the average London house price.
- Districts in Newham: Beckton, Canning Town, Custom House, East Ham, East Beckton, Forest Gate, Gallions Reach, Manor Park, Maryland, Mill Meads, North Woolwich, Plaistow, Little Ilford, Temple Mills, Silvertown, Stratford, Upton Park, West Ham.
- Local Authority: The local authority for the London Borough of Newham is Newham Council.
Lease Extension Regulations in Newham
If you own a leasehold property in Newham, you should be able to extend your lease by an additional 90 years.
There are two ways to extend your lease, either formally or informally. Unfortunately, Newham Council offers very little information about how they handle their lease extensions – aside from providing contact details for their Leasehold Services. The contact information is on their ‘Leaseholders’ Information and Advice’ webpage.
If you have owned your property for at least two years, we advise you to take the statutory (formal) route as it gives legal protection under the Leasehold Reform, Housing and Urban Development Act 1993.
The Lease Extension Company has completed many lease extensions in and around London, as evidenced by our case studies. Our experience shows that councils also prefer to endorse the statutory route because it provides a scheduled and regimented procedure.
To assist you with the statutory procedure, we will supply a professional surveyor and experienced legal guidance to ensure you achieve the cheapest premium and the fairest terms for your property.
The Lease Extension Process
See below for an overview of a statutory lease extension. Our team will be on call to answer questions and support you throughout the process.
- Eligibility Check
- Serving the Section 42 Notice
- Receipt of the Section 45 Counter Offer
- Agreement of Terms
- Registration of your new lease
Please also see our ‘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 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 to 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 specific legal information. This is a technical legal notice, and it must be precisely 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.
Continue reading to learn about the main freeholders in Newham.
Key Freeholders in Newham
One of the main freeholders in the area is Newham Council. However, several housing providers operate in the borough, allowing affordable accommodation through shared ownership and help-to-buy schemes. In some cases, these providers may act as your competent landlord.
Some of the leading housing providers include Peabody, L&Q Group, Network Homes and Swan Housing Association. The entire index of housing providers in Newham is listed on the council’s ‘Buying A Low-Cost Home’ webpage. Please be aware that each housing provider may have a preferred way of handling lease extensions, so look into their terms.
Additionally, please note that shared ownership leaseholders will only qualify for the statutory right to extend their lease if they have ‘staircased’ up to 100% ownership.
Finding your Freeholder
The contact details of your freeholder are detailed 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. As a client of The Lease Extension Company, we can arrange this for you.
How Much Will Your Lease Extension Cost?
Before heading into a lease extension, it’s worth calculating your potential costs. Lease extension premiums are 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.
The cost can also depend on your route to obtain 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.
If you’re curious about costs, please visit our helpful Lease Extension Calculator. It is a tool that will allow you to estimate your premium.
About The Lease Extension Company’s Fixed Fee Service
At The Lease Extension Company, we take a straightforward approach to this tricky area of property law. To do this, we will develop a detailed plan covering all stages, legal requirements, and your expected costs. All costs will be combined into a simple fixed fee, so you know what to expect from the beginning of the process.
You’ll also receive the guidance of a skilled surveyor and solicitor to ensure you’re in safe hands and not paying a penny more for your lease extension (premium) than necessary.
Start Your Lease Extension in Newham Today.
Are you thinking about extending the lease on your Newham property? Trust The Lease Extension Company to support you from your initial consultation to the final HM Land Registry title.
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What Our Clients Say
"Thank you so much for your help. You made what at first appeared like a big daunting and expensive task, simple, easy to understand and almost fun!"
Jackie and Phil - Southampton
"Thank you for helping with our freehold. Everyone has been very helpful and friendly even our surveyor and lawyer were very friendly and got things done quickly."
Kevin - Bournemouth
"Thank you for all your effort in helping us extending the lease. I sincerely believe you saved us a lot of time and money. Please can you offer the same service for buying a house?!"
Mark - Manchester
"Tabitha thank you and your team for all your advice and help it was much appreciated. We can’t thank you all enough for making sense of our position and helping us find the solution. We couldn’t recommend the LEC more highly."
Sandra and Tom - Leeds
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