Extending your Lease
WATMOS is the Freeholder of your property. If you own a leasehold flat, then you will have a lease which gives you the right to occupy your property for the term of the lease, so it is similar to a very long tenancy agreement. Leases last for a set number of years, which commence from around the time the flat was first sold. Most leases for WATMOS properties last for 99 or 125 years.
If the lease term was allowed to run down completely, you would have to give back your property to the freeholder according to the terms of your lease.
You have the right to extend your lease term by purchasing a further 90 years to add to the remaining term. So if you had a 99 year lease granted 20 years before, so 79 years are left, an additional 90 years would extend the lease to a 169 year term. Please click here to view a Guide to residential lease extension for WATMOS leaseholders. 2018 WATMOS Guide to residential lease extension
You can get information on most residential leasehold matters, including lease extension, from the website of the Leasehold Advisory Service, which is an independent service funded by the government. https://www.lease-advice.org/advice-guide/lease-extension