The Lease Extension Letter is a crucial document in the leasehold extension process within England and Wales. It is typically used when a residential lease term is diminishing, and the leaseholder wishes to exercise their statutory right to extend the lease by an additional 90 years at a peppercorn rent. The letter must comply with the requirements of the Leasehold Reform, Housing and Urban Development Act 1993 and should be drafted carefully to ensure it effectively triggers the statutory process. This document is particularly important as it forms the basis for subsequent negotiations and legal proceedings.
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1. Sender's Details: Full name, address and contact information of the leaseholder
2. Recipient's Details: Full name and address of the freeholder/landlord
3. Property Details: Full address and description of the leasehold property
4. Current Lease Details: Current lease length, start date, and remaining term
5. Extension Request: Formal request for lease extension under the Act
6. Statutory References: Reference to relevant sections of the 1993 Act
1. Proposed Premium: Initial offer for the lease extension premium - used when making an informal approach before statutory notice
2. Solicitor Details: Contact details of legal representation - included when legal representation has been appointed
3. Valuation Details: Reference to professional valuation - included when a professional valuation has been completed
1. Copy of Current Lease: Copy of existing lease document
2. Title Register: Up-to-date copy of the property's title register
3. Valuation Report: Professional valuation report if obtained
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