December 5, 2020

Leaseholders in Chelmsford must extend leases by 24th December

Hundreds of leaseholders at Rookes Crescent, Parkinson Drive, Crompton Street and Evelyn Place in Chelmsford are being urged to extend their leases before 24th December 2020. Failure to do so will significantly devalue their property and incur material costs which can be avoided if leaseholders act now.

Lease extension solicitor at Holmes & Hills, Callie Tuplin, is issuing the warning and explains the issue affecting the leaseholders below.

Leaseholders in Chelmsford to hit critical 80 year mark

On 24th December 2020, hundreds of leaseholders at Rookes Crescent, Parkinson Drive, Crompton Street and Evelyn Place in Chelmsford will see their leases fall below the critical point of 80 years remaining on the term of their lease. 

When a lease falls below the point of 80 years remaining, it becomes significantly more expensive to extend the lease. The cost is likely to increase by several thousands of pounds. This is due to a piece of law that states additional compensation must paid to the freeholder, this being called ‘Marriage Value’. 

Leaseholders can avoid incurring this additional cost by speaking with the lease extension specialists at Holmes & Hills Solicitors in Essex immediately and commencing the lease extension process. This will allow for the lease extension solicitors at Holmes & Hills to serve the formal Notice to extend on your freeholder before the critical date of 24th December 2020.

Already representing dozens of leaseholders in CM1 3

Holmes & Hills is already advising and acting for dozens of leaseholders at Rookes Crescent, Crompton Street, Parkinson Drive and Evelyn Place. The specialist team of lease extension solicitors are familiar with the leases and very familiar with the tactics employed by the freeholder which has demonstrated attempts to extract maximum value from leaseholders. 

With specialist legal advice form the leasehold experts at Holmes & Hills Solicitors, leaseholders in Chelmsford have been able to avoid over-paying for their lease extension and have been able to protect their legal interests and the prevent their property devaluing. 

What happens if you do nothing?

If you do not do what other leaseholder have done and call Holmes & Hills with a view to commencing the lease extension process, your lease will fall below the 80 year mark. This means:

  • Your property will devalue
  • Your property will be difficult to remortgage
  • Your property will become difficult to sell
  • The cost of extending your lease will increase by thousands of pounds

Get Free Initial Advice

Call 01206 593990 and speak to our lease extension specialists today. Or complete the form at the bottom of this page.

What has my freeholder/management company not contacted me about this?

It is not in the interests of the freeholder to highlight this issue to you. You freeholder will hope that you do not extend your lease before the 24th December 2020 deadline because if you fail to do this, they will receive more money from you when you do get to extending your lease. There is no legal obligation on them to highlight this issue to you.

What is Holmes & Hills Solicitors bringing this to your attention?

Holmes & Hills Solicitors is already representing leaseholders at Parkinson Drive, Evelyn Place, Crompton Street and Rookes Crescent and so we are aware the critical date is extremely close. If you contact Holmes & Hills Solicitors immediately, our lease extension specialists can provide you with free initial advice and commence the process of extending your lease before the critical date of 24th December 2020.

How many of my neighbours are doing this?

Holmes & Hills Solicitors had already assisted and is assisting dozens of your neighbours already.

What do I need to do now?

Timing is critical. It is strongly recommended that you call Holmes & Hills Solicitors today on 01206 593990. Due to the agency of the matter, phone calls to this number will be answered at during normal weekday working times as well as evenings up to 9pm and on Saturdays and Sundays 9am to 8pm.

When you call Holmes & Hills Solicitors on 01206 593990 you will receive free initial advice and guidance and be told what you need to do and how much extending your lease is likely to cost.

How much will extending my lease cost?

Due to Holmes & Hills already dealing with leaseholders and the freeholder at Parkinson Drive, Evelyn Place, Crompton Street and Rookes Crescent, we can give you an accurate cost for extending your lease. Please call 01206 593990 to discuss costs and receive other important information from our specialists. 

Do I need a solicitor or can I do it myself?

Holmes & Hills experience dealing with the freeholder of these properties has demonstrated that the freeholder is keen to extract as much money from leaseholders as possible and seeks to offer poor terms to leaseholders.

Leaseholders would be ill-advised to approach the freeholder themselves. 

Holmes & Hills, having assisted dozens of leaseholders at these properties, knows exactly the deal that other leaseholders have been able to secure. 

Get Free Initial Advice

Call 01206 593990 and speak to our lease extension specialists today. Or complete the form below.

Key Contact

Callie Tuplin

Senior Solicitor

cnt@holmes-hills.co.uk

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