If you are buying a leasehold property it may be that the length of the lease needs to be extended.
This is to ensure that any lender will be prepared to lend against that property.
A lease can be extended for up to 90 years and it’s really important that a valuation of the property is carried out as the amount payable for a lease extension has to be calculated in line with legislation.
The timeframe for a lease extension really depends on the circumstances of each transaction, but it could be anywhere between 2 and 12 months. Our experienced conveyancing team are on hand to discuss this further with you and will provide clear and concise advice as to the options for this process based on your individual circumstances.
For more information, our Leasehold Extension FAQs may be helpful for you.