Lease Extensions Explained | How to Extend Your Lease | Leasehold Property Explained | UK

Welcome to Self Invested!

In this video I explain the lease extension process using the Leasehold Reform Act (statutory lease extension). I think this is an important topic for anyone that owns or is in the process of buying a leasehold property.
If either is you, this video will explain the importance of extending your lease and give some insight into the process. This video will also make you a more informed buyer by highlighting things to be aware of and offering tips for when buying a property that needs a lease extension.

CONTENT
- Welcome 00:00
- Intro 00:44
- What is a leasehold property? 01:40
- Why you should extend your lease! 03:40
- Your lease extension options! 04:58
- What is the lease extension process? 07:00 (Subsections: Eligibility 07:10, Cost estimate 08:20, Finding a surveyor 13:22, Finding a solicitor 15:10, Valuation 16:27, Serving Section 42 Notice 16:48, Landlord's initial response 18:29, Counter offer 19:03, Negotiation 19:51, Tribunal 20:20, Final costs 21:55)
- Outro 22:35

Hope you enjoy!

ABOUT ME
I'm Lemuel. I'm not a financial advisor. I'm not an expert. I'm a regular guy trying educate himself on personal finance, sharing what he learns along the way.
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LINK TO TOOLS/RESOURCES USED
Lease extension process - https://www.lease-advice.org/advice-guide/lease-extension-getting-started/
Lease extension calculator - https://www.lease-advice.org/calculator/
Finding a surveyor - https://www.ricsfirms.com/
Finding a solicitor - https://solicitors.lawsociety.org.uk/

TOPICS
Leasehold Reform Act, Lease Extension, short lease, lease extensions, leaseholders, how to extend a lease, lease extension process, section 42 notice, lease extension calculator, leasehold property explained, statutory lease extension, informal lease extension, ground rent, lease extension valuation, lease extension solicitors, lease extension surveyors, lease extension solicitors, premium, self invested, Lemuel
DISCLAIMER
This video is not meant to address the specific circumstances of any particular individual. It is created for educational purposes only. You should not rely upon it as legal, financial or professional advice, or a substitute for it. I do not accept any liability whatsoever for errors, omissions or misstatements contained therein. You should consult a suitably qualified professional if you require specific advice or information.

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