This policy outlines our approach to extending leases for full leaseholders and shared owners. It covers statutory and discretionary (informal) lease extensions.
Full leaseholders (these are leaseholders who own 100% of the equity in the property leased to them) have a statutory right to extend their lease if they meet the relevant requirements.
They can choose to follow this policy to ask us to extend their lease (and agree a valuation), or pursue the statutory route. If they choose to use the statutory route, the statutory process will be followed outside of this Policy. There is no statutory entitlement to extend a shared ownership lease.