Lease extension – can I do this myself?

Lease extension – can I do this myself?

0:01 AM, 3rd July 2023, About 10 months ago 15

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Hello, I own the freehold to the house and the leasehold to my flat. There are only two flats as it is a house converted. My lease has about 50 years left to run so I want to extend it and thought as I own the freehold and leasehold it would be straightforward forward but it seems I cannot do that.

Or can I? I have seen on this site a comment that I can extend the lease to myself and another comment that I cannot. I really am unsure how to go about this.

Thank you,

Sherroll


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Comments

Tim Rogers

9:46 AM, 3rd July 2023, About 10 months ago

I'd be interested in any answers, as 2 solicitors have given conflicting advice and the land registry a third version as to what can be done.

Ray Doyle

9:49 AM, 3rd July 2023, About 10 months ago

Hi
I was one of the ones you saw saying you cant, I couldn't because I owned both upper and lower flats and they are Tyneside flats, so the upper owns the freehold of the ground floor and ground floor owns freehold of one above.
Yours sounds different and I would imagine that unless you are selling it you do not need to extend it, and when you come to sell it your solicitor will just need to do a lease variation on sale to extend the lease to the new buyer. I am transferring one of mine to my wife and doing the lease extensions on both as part of the transfer.
Hope this helps as I did not get any comments back so best of luck.
Ray Doyle

Judith Wordsworth

9:57 AM, 3rd July 2023, About 10 months ago

Yes you can as your wear 2 independent hats with no conflict of interest.

As the leaseholder you can either draft a surrender and regrant of the lease OR a Deed of Variation only amending the length of the term to 999 years (usual) and the ground rent to a peppercorn for you the freeholder to approve.
Then you as freeholder approve the draft.
You as leaseholder engross (type up the approved draft) 2 copies which are both signed and dated by the leaseholder (you) and the freeholder (you). Then register both at HMLR in the Title Registers of the Leasehold AND the Freehold. Separate fees for each Title.

Puzzler

8:22 AM, 4th July 2023, About 10 months ago

You can't have the freehold and leasehold in the same name, that's all. Because you can't have a contract with yourself, it would be legal nonsense. This was probably why Ray could not do it not because of each owning the other's freehold.

There are several ways around it such as someone else having a 1% share of the freehold.

Puzzler

9:13 AM, 4th July 2023, About 10 months ago

Presumably you want to extend it because you are remortgaging or planning to sell? Otherwise there is no need. The best option would be to to do it as part of the conveyancing process - make sure you use a solicitor who understands lease extensions, as not all do. They will explain the options.

Sherroll Foster

19:07 PM, 5th July 2023, About 10 months ago

I forgot to say that the lease is in my maiden name and the freehold in my married name and wonder if that makes a difference.

Crossed_Swords

9:11 AM, 6th July 2023, About 10 months ago

Unfortunately I think not as you're still the same "legal" person. Transfer the freehold into joint ownership with your spouse with them holding 1%. I was in this exact same position and this is what my solicitor arranged.

Derek t

7:27 AM, 8th July 2023, About 10 months ago

Reply to the comment left by Puzzler at 04/07/2023 - 08:22
I have leaseholds in blocks of flats and also own the freeholds in the same name never had any issues

Sherroll Foster

8:59 AM, 8th July 2023, About 10 months ago

Looks like I have to see a solicitor which I was hoping to avoid.

Judith Wordsworth

9:46 AM, 8th July 2023, About 10 months ago

Reply to the comment left by Puzzler at 04/07/2023 - 08:22Sorry but rubbish. 1 person can own the freehold and could create x number of flats and have all the leaseholds in their name. It’s what Joe Bloggs the small builder does.

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