Stop! Your Lease Extension in Chesham Could Be FREE

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Many leaseholders in Chesham are unaware that their original lawyer had a duty to warn them about future mortgageability and saleability issues. Before you pay thousands to your freeholder, let us audit your purchase history. You might have a claim that pays for your lease extension in full

If you are facing a significant premium because your lease in Chesham has dropped toward the 80-year mark, your previous lawyer may be at fault. Our panel of experts specialise in recovering lease extension costs from negligent firms who failed to protect your investment.

Why you should commence your Chesham lease extension

Top reasons for lease extension now:

A Chesham lease depreciates with the years remaining on the lease.

The market value of Chesham leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of extending the lease can increase materialy once the remaining term is less than 80 years

An extended lease is almost the same value as a freehold

Leasehold properties in Chesham with over 100 years left on the lease are sometimes regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such situations there is often little upside in buying the reversionary interest unless savings on ground rent and service charges warrant it.

Lending institutions may not finance a property on a short lease

Banks and building societies vary in their lending criteria. Some draw the line at seventy five years outstanding on the lease; others may be prepared to lend with anything with more than seventy years. Below sixty years, it may be difficult to get a mortgage at all.

Lender Requirement
Accord Mortgages
Bank of Scotland
Godiva Mortgages
National Westminster Bank
Santander

What makes us experts in Chesham lease extensions?

Irrespective of whether you are a tenant or a landlord in Chesham,the lease extension lawyers that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Chesham valuers.

Chesham Lease Extension Example Cases:

Alicia, Chesham, Buckinghamshire,

In the wake of 9 months of protracted correspondence with the freeholder of her ground floor apartment in Chesham, Alicia initiated the lease extension process just as the lease was approaching the all-important 80-year mark. The lease extension completed in November 2009. The freeholder’s charges were kept to an absolute minimum.

Chesham case:

Last Autumn we were phoned by Mr and Mrs. C Bertrand , who bought a one bedroom apartment in Chesham in May 1995. The question was if we could estimate the premium would be for a 90 year lease extension. Similar premises in Chesham with a long lease were worth £218,000. The average ground rent payable was £45 billed annually. The lease finished on 7 August 2089. Considering the 63 years outstanding we approximated the compensation to the freeholder to extend the lease to be within £17,100 and £19,800 plus costs.

Chesham case:

Last Christmas we were called by Mr N Leroy , who moved into a studio apartment in Chesham in June 2007. We are asked if we could shed any light on how much (approximately) premium would be to extend the lease by a further 90 years. Similar residencies in Chesham with an extended lease were valued around £270,000. The average ground rent payable was £55 invoiced monthly. The lease came to a finish on 15 June 2100. Having 74 years left we estimated the premium to the freeholder to extend the lease to be between £9,500 and £11,000 plus expenses.