Stop! Your Lease Extension in Cudham Could Be FREE

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Many leaseholders in Cudham 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 Cudham 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 start your Cudham lease extension

Top reasons for lease extension now:

A Cudham leasehold property depreciates with the years remaining on the lease.

The value of Cudham 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 significantly once the unexpired lease term is below than 80 years

Cudham property with a lease extension has roughly the same value as a freehold

Leasehold premises in Cudham with in excess of one hundred 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 freehold unless savings on ground rent and service charges warrant it.

Lenders may decide not to lend on a short lease

Banks and building societies are really clamping down as regards to properties in Cudham with short leases. For example you might discover that their lending criteria are stricter and that they alter interest rates depending on how many years are left on the lease. Some may even refrain from lending completely, so where you wanted to sell, your remaining options would be to find a cash purchaser, or try your luck at auction thus restricting the amount of potential purchasers.

Lender Requirement
Bank of Scotland
Godiva Mortgages
Halifax
Santander
The Mortgage Works

What makes us experts in Cudham lease extensions?

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

Cudham Lease Extension Example Cases:

Nicole, Cudham, South East London,

Following unsuccessful discussions with the freeholder of her two bedroom flat in Cudham, Nicole commenced the lease extension process just as the lease was nearing the all-important 80-year mark. The legal work was finalised in April 2009. The freeholder’s charges were kept to an absolute minimum.

Cudham case:

Last Winter we were called by Dr H Roux , who moved into a one bedroom flat in Cudham in September 2009. The question was if we could approximate the premium would be to prolong the lease by 90 years. Comparative premises in Cudham with an extended lease were in the region of £285,000. The average ground rent payable was £55 collected every twelve months. The lease end date was in 2105. Considering the 79 years unexpired we estimated the premium to the landlord to extend the lease to be within £13,300 and £15,400 plus fees.

Decision in Bromley

An example of a Lease Extension matter before the tribunal for a Cudham premises is 1 Southlands Court Southlands Road in September 2013. The Leasehold Valuation Tribunal determined that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 was £30,541 This case affected 1 flat. The unexpired lease term was 50.57 years.