Stop! Your Lease Extension in Forest Hill Could Be FREE

Get a Free Case Review
Many leaseholders in Forest Hill 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 Forest Hill 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.

Main reasons to start your Forest Hill lease extension

Why you should start your Forest Hill lease extension today:

Increase your lease and increase your Forest Hill property value

Chances are that where you own a flat in Forest Hill you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a residential leasehold with over 100 years unexpired lease term is worth roughly the same as a freehold. Where an additional 90 years added to any lease with more than 45 years unexpired, the property will be equivalent in value to a freehold for decades to come.

Lending institutions will not finance a property with a short lease

Lending institutions are less likely to grant a mortgage on a domestic property in Forest Hill with a short lease. Some lenders simply refuse to lend on leases with below 75 years remaining.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Birmingham Midshires Minimum 70 years from the date of the mortgage.
Godiva Mortgages A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must be at least 30 years plus the term of the mortgage at the outset of the mortgage.
Virgin 85 years at the time of completion. If it's less, we require it to be extended on or before completion.

Why use us for your lease extension in Forest Hill?

Using our service gives you better control over the value of your Forest Hill leasehold, as your property will be more valuable and saleable in terms of lease length should you wish to sell. The conveyancers that we work with have a in-depth market knowledge handling many hundreds of lease extensions or freehold purchase transactions.

Forest Hill Lease Extension Case Studies:

Alexander, Forest Hill, South East London

Two years ago Alexander, started to get close to the 80-year mark with the lease on his ground floor flat in Forest Hill. Having purchased his property two decades ago, the length of the lease was of little relevance. Thankfully, it dawned on him that he needed to take steps soon on a lease extension. Alexander was able to extend his lease at the eleventh hour in June. Alexander and the freeholder in the end settled on an amount of £5,500 . If he not met the deadline, the amount would have increased by a minimum £1,150.

Forest Hill case:

Last Summer we were approach by Mr Ben Watson , who completed a newly refurbished apartment in Forest Hill in March 1996. We are asked if we could shed any light on how much (roughly) premium would be to prolong the lease by a further 90 years. Similar homes in Forest Hill with an extended lease were in the region of £200,800. The mid-range ground rent payable was £65 billed yearly. The lease finished in 2086. Having 60 years as a residual term we estimated the premium to the freeholder to extend the lease to be between £20,900 and £24,200 not including costs.

Decision in Lewisham

An example of a Lease Extension decision for a Forest Hill premises is Flat 1 40-42 Ewelme Road in August 2012. the Tribunal assessed the premium for the lease extension in the sum of £11,800 This case was in relation to 1 flat. The unexpired term was 61.81 years.