You must begin giving leasehold extension some serious thought when your current lease creeps towards to the benchmark figure of having 80 years or less to run.
Socialising and talking seems like a good place to begin. You visit some internet forums and talk to others about leasehold extension. You write a blog or two and read a few more. Then you ask around your office or workplace.
Now you start finding out a few interesting things. You must acknowledge that everyone at some point has been in this position? That's probably one of the first things you discover. So many people seem to have a story to tell, you never realised lease extension on a flat was such a common topic.
The one thing you discover is that when you are attempting extending a lease, landlords seem to be the biggest horror!
A bit unfair really. It sounds like we can all be pigeon-holed and given labels. How about accountants, solicitors and doctors?
Did you ask any of those people who have begun to influence you if they sat down in a physical face to face meeting with their landlord? How many picked up the phone and after an initial discussion, arranged to meet their freeholder? Did they think about looking into a lease extension on their home?
Too often it's easy to get the wrong influence from well meaning friends and colleagues. You then find yourself on the defensive. Landlords are human. They will have their own interests and concerns to think about when you announce you wish to apply for leasehold extension.
When you contact your freeholder and inform him of your intention to extend the lease, be professional in your approach. Show him you are not going to accept nonsense but remain calm and focused. This is where thorough prior knowledge of the process will give you mountains of confidence. It will show that you have a thorough understanding of all the relevant issues. You should be able to do this without being too demanding and aggressive.
This, in turn, will help bring respect and goodwill. These factors will help you achieve your cause and get that freedom you are after. Starting out by getting aggressive will not.
Before starting the process of lease extension try to find out as much background information as you can; that is only sensible. Where you hit a difficulty it is always best to allow the experienced solicitor to take over.