Top reasons for Dulwich lease extension

Why you should commence your Dulwich lease extension today:

Increase your lease and increase your Dulwich property value

The market value of Dulwich leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The expense of a lease extension can increase significantly once the remaining term is less than 80 years

An extended lease is almost the same value as a freehold

It is conventional wisdom that a property with more than 100 years unexpired lease term is worth roughly the equivalent as a freehold. Where an additional 90 years added to any lease with more than 30 years left, the premises will be worth the same as a freehold for many years in the future.

Lending institutions will not issue a mortgage on a short lease

Most mortgage lenders will be unwilling to lend on a lease with less than seventy years remaining - although this varies from lender to lender. A buyer will likely encounter difficulties to obtain a mortgage and this could result in your Dulwich property becoming difficult to dispose of or refinance.

Why use us for your lease extension in Dulwich?

The conveyancing solicitors that we work with handle Dulwich lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancer we work with provide it.

Dulwich Lease Extension Case Studies:

Erin, Dulwich, South East London,

Trailing lengthy correspondence with the freeholder of her garden flat in Dulwich, Erin started the lease extension process as the eighty year mark was quickly advancing. The lease extension was concluded in June 2010. The landlord’s costs were kept to an absolute minimum.

Dulwich case:

In 2014 we were approached by Dr S Baker who, having purchased a one bedroom apartment in Dulwich in August 2004. The question was if we could approximate the compensation to the landlord would be for a ninety year lease extension. Comparative residencies in Dulwich with an extended lease were worth £275,000. The average ground rent payable was £65 collected yearly. The lease ended on 17 July 2094. Considering the 68 years as a residual term we calculated the compensation to the freeholder for the lease extension to be between £12,400 and £14,200 plus expenses.