The Right to Extend the lease of your flat or apartment permits you to allows a tenant to ‘purchase’ a longer lease term from the landlord at market price, provided certain conditions are met, as deatiled in our Guide.
The right permits the new lease to be extended 90 years after the date on which the exisitng lease expires. The Right to Extend includes a right to reduce the ground rent to zero.
If possible, it is important to consider extending your lease before the lease term falls below 82 years. This is because the cost of extending your lease can increase significantly if the term falls below 80 years and it is wise to allow time to deal with the extension claim.