Homehold has one goal: make it easier and cheaper for leaseholders like you to extend their leases. Unlike other firms who either do the valuation work or the legal work associated with extending a lease, Homehold’s service includes both. They have a specialist valuation team inhouse and own a firm of lease extension solicitors, which are regulated by the Solicitors Regulation Authority.
Homehold will negotiate hard and proactively to ensure you receive a fair lease extension premium. While it can be avoided in most cases, their team have experience attending First Tier Tribunal in the capacity of Expert Witness if needed.
To ensure that their clients receive a high quality of legal work on their lease extensions, they have set up their own firm of lease extension solicitors, LLS. This firm is led by Leah Veasey, a solicitor who has completed over 1,000 lease extensions to date.
Homehold’s Fixed-Price Lease Extension Service
They offer a fixed-price lease extension service which covers all the legal and valuation work from start to finish. This involves the following three stages:
Preparation and Valuation: The solicitors will review the legal paperwork to ensure that everything is present and correct, and they have everything they need to do the lease extension. Homehold’s in-house valuation team will prepare a valuation to indicate how much you should anticipate paying for the lease extension, and equip them with the evidence they need to negotiate effectively.
Notice Serving and Negotiation: The lease extension process is started by the solicitors serving a Section 42 Notice on your freeholder, offering an initial sum of money for your lease extension. Whether the negotiation takes a few emails and a telephone call, or whether it drags on for months, this is included in Homehold’s fixed fee.
Conveyancing and Completion: Once a price for your lease extension has been agreed between the surveyors, your freeholder’s solicitor will produce a document that extends the term of your existing lease and reduces the ground rent to £0. The solicitors will conclude the transaction and register this at the Land Registry
Homehold are famed for their excellent customer service – having over 100 5* reviews on both Trustpilot and Google Reviews. During your lease extension they will update you each week, so you never have to chase them.
Where are Homehold based?
Homehold operate across England and Wales, although much of their work is based in London and the South-east, which is where there is a particularly high density of flats.
Homehold currently only complete lease extensions done on a statutory basis. These will extend your lease by an addition 90 years, eradicate your ground rent and ensure that your lease is on much the same terms as the current lease – i.e. your freeholder cannot add any new charges or restrictions.
Homehold is a member of the Association of Leasehold Enfranchisement Practitioners (ALEP) and has recently received the accolade of “High Commended” in the Enfranchisement and Right to Manage Awards 2023.