Top reasons for Dulwich lease extension

Main reasons to start your Dulwich lease extension today:

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

The only way is down when it comes to Dulwich lease terms. Dulwich properties that have a remaining term lower than eighty years will de-escalate in value even faster, and the cost to extend your lease will increase.

An extended lease is almost the same value as a freehold

It is generally considered that a property with over 100 years remaining is worth roughly the same as a freehold. Where an additional 90 years added to all but the shortest lease, the property will be equivalent in value to a freehold for many years ahead.

Lenders may decide not to finance a property with a short lease

Many mortgage lenders will be unwilling to lend on a lease with less than seventy years remaining - although this varies between mortgage companies. A buyer will no doubt encounter difficulties to obtain a mortgage and this could result in your Dulwich property being difficult to dispose of or to obtain finance on.

What makes us experts in Dulwich lease extensions?

Lease extensions in Dulwich can be a difficult process. We recommend you secure professional help from a conveyancer and valuer with experience in lease extensions.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have in-depth market knowledge procuring Dulwich lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Dulwich Lease Extension Case Studies:

Ellen, Dulwich, South East London,

Following protracted discussions with the freeholder of her ground floor flat in Dulwich, Ellen initiated the lease extension process as the 80 year deadline was fast approaching. The transaction was finalised in November 2006. The freeholder’s costs were negotiated to less than 700 pounds.

Dulwich case:

Mr and Mrs. S Moore owned a garden flat in Dulwich in February 2001. The dilemma was if we could shed any light on how much (roughly) compensation to the landlord could be for a ninety year lease extension. Comparative properties in Dulwich with an extended lease were worth £213,600. The mid-range ground rent payable was £60 invoiced annually. The lease elapsed in 2083. Given that there were 57 years outstanding we estimated the compensation to the landlord for the lease extension to be between £30,400 and £35,200 exclusive of legals.