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Extending my lease - A2Dominion's voluntary lease extension scheme

Under our voluntary lease extension scheme, you can extend your lease by either an extra 26 years or an extra 99 years (on top of the existing term). If we don't own the freehold of your property you can only extend your lease by the extra years if A2Dominion has enough years left on its main lease to allow for it.

How to extend your lease

  1. Contact us to let us know you would like to extend your lease.
  2. We'll then need to arrange an independent valuation of your property so we can determine the cost of extending your lease. To do this, we’ll ask you to complete a valuation instruction form and pay for the cost of the valuation.
  3. Once we’ve had your property valued, we’ll send you a copy of the valuation so you can decide if you’d like to go ahead with extending your lease.
  4. If you do want to proceed, you’ll need to tell us whether you want to extend your lease by 26 or 99 years.
  5. We'll then ask our solicitor to complete the lease extension. At this point, you must contact your own solicitor to manage your side of the paperwork.

After your lease has been extended, your ground rent will increase from £10 a year to £100 a year for the first 33 years then £200 a year for the next 33 years and £400 for the remainder of the term.

Are there any other costs?

As well as legal and valuation costs, you'll need to pay an administration fee for our registration of the new extended lease and counterpart. You may also need to pay an extra administration fee to us if you need to increase your mortgage (if you have one) to pay for the cost of the lease extension if your lease requires your mortgage to be registered with us.

Extending my lease under the Leasehold Reform, Housing and Urban Development Act 1993.

 
 

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This page was printed from A2Dominion Web site at http://www.a2dominion.co.uk/