Sutton Lease Extensions

Living in Sutton:

In the 1800s, Sutton was nothing more than a few rural villages and farmland until the railway arrived, bringing employment, housing and opportunities. Despite its urbanisation, the area still maintains a humble feel. Conservation efforts have taken place to preserve Sutton’s rural charm and tranquil nature.

While Sutton lacks Underground connections, it provides many National Rail links that make commuting to and from the area a breeze. Sutton’s peaceful environment and excellent transportation links make it an ideal location for families, retirees and anyone seeking to escape the frenzy of city life.

If you reside in the London Borough of Sutton and are interested in extending your lease, this article covers all necessary information about the procedure in your area.

• Population: The population of Sutton was registered as 209,600 in 2021 (Office for National Statistics).
• Average House Price: Most sales in Sutton over the past year were flats, selling for an average cost of £296,706 (Rightmove).
• Areas in Sutton: Bandon Hill, Beddington, Belmont, Benhilton, Carshalton, Carshalton Beeches, Carshalton on the Hill, Cheam, Hackbridge, Little Woodcote, North Cheam, Rosehill, St. Helier, South Beddington, Sutton, Sutton Common, The Wrythe, Wallington, Woodcote Green, Worcester Park.
• Local Authority: The local authority in Sutton is the London Borough of Sutton Council.

Lease Extension Regulations in Sutton

If you own a leasehold property in Sutton, you can extend your lease by an additional 90 years. This procedure can be carried out formally or informally.

That said, we often advise clients who have owned their property for at least two years to opt for the statutory (formal) route because it offers legal protection under the Leasehold Reform Housing and Urban Development Act 1993.

The London Borough of Sutton Council’s housing stock is managed by the organisation Sutton Housing Partnerships (SHP). SHP provide a Lease Extension Leaflet that states that they accept formal lease extensions.

The LEC will provide you with specialist surveyors and solicitors who will serve all necessary notices and negotiate your property’s cheapest premium with the fairest lease terms. Please view our excellent record of case studies to see the results we’ve achieved for our previous clients.

The Lease Extension Process

See below for a step-by-step outline of the statutory lease extension 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

Uncover further details by reading our helpful ‘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 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 specific 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. This document will be sent to you for approval before it is forwarded to the solicitors who will serve the Section 42 notice to the Freeholder on your behalf.

Discover more about freeholders in Sutton in the information below.

Key Freeholders in Sutton:

The ‘Sutton Housing Partnership’ (SHP) was set up in 2006 to manage council housing stock on behalf of Sutton Council. Given SHP’s extensive property portfolio, it is highly probable they may be your competent landlord.

Sutton Council also acknowledge plenty of housing associations that operate in the borough. Organisations such as SO Resi, Southern Housing and L&Q Group have a prominent influence within the locality. If you have a lease from one of these organisations, they could also be your competent landlord.

Finding Your Freeholder:

The details of your freeholder are in your original leasehold 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 client of The Lease Extension Company, we can take care of this at the start of the procedure.

How Much Will Your Lease Extension Cost?

Lease extensions vary in cost from property to property because they depend 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 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 gauge your costs, we have developed a useful Lease Extension Calculator tool to help you estimate your premium.

About The LEC’s Fixed Fee Service

At The Lease Extension Company, we take a fuss-free approach to this complex area of property law. Our practice involves developing a detailed plan covering all stages, legal requirements and expected costs. All expenses are consolidated into a straightforward fixed fee, giving you a clear understanding of the cost from the very beginning.

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

Obtain a Quote for Your Sutton Lease Extension.

There is no better time than the present to extend your lease. Speak with The Lease Extension Company and get a quote or arrange a free consultation to discuss your circumstances.

Complete our convenient online form, call us on 0800 098 2770 or email [email protected] to proceed.