Stop! Your Lease Extension in Fulham Could Be FREE

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Many leaseholders in Fulham 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 Fulham 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 Fulham lease extension

Why you should start your Fulham lease extension today:

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

The value of Fulham 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 escalate significantly once the remaining term is less than eighty years

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

Leasehold properties in Fulham with over one hundred years outstanding on the lease are often regarded as a ‘virtual freehold’. This is where the lease is worth the same as a freehold interest in your property. In such circumstances there is often little to be gained by purchasing the freehold unless savings on ground rent and estate charges warrant it.

Lending institutions may decide not to grant a mortgage with a short lease

Banks and building societies differ in their lending criteria. Some set the bar at 75 years left on the lease; others may be content with anything over seventy years. With less than 60 years, it may be challenging to get a mortgage in the first place.

Lender Requirement
Barnsley Building Society
Nationwide Building Society
TSB
The Mortgage Works
Royal Bank of Scotland

What makes us experts in Fulham lease extensions?

Engaging our service will provide you increased control over the value of your Fulham leasehold, as your property will be more valuable and saleable in relation to the lease length should you decide to sell. The conveyancers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Fulham Lease Extension Case Studies:

Millie, Fulham, West London,

Subsequent to protracted correspondence with the freeholder of her purpose-built apartment in Fulham, Millie started the lease extension process as the eighty year threshold was rapidly advancing. The transaction was concluded in September 2009. The landlord’s charges were restricted to below five hundred GBP.

Fulham case:

Last Summer we were called by Mr and Mrs. A Scott , who purchased a ground floor apartment in Fulham in May 2001. The question was if we could approximate the premium would be for a ninety year extension to my lease. Similar properties in Fulham with an extended lease were valued around £235,200. The mid-range ground rent payable was £45 invoiced every twelve months. The lease finished in 2092. Considering the 66 years unexpired we approximated the compensation to the freeholder to extend the lease to be between £12,400 and £14,200 plus professional charges.

Decision in Hammersmith and Fulham

An example of a Freehold Enfranchisement matter before the tribunal for a Fulham premises is 66 and 66a Wardo Avenue in November 2012. The Tribunal determined that the sum of £8,048 is payable by the Applicants in respect of the price for the freehold of the property This case affected 2 flats. The number of years remaining on the existing lease(s) was 93 years and 162 years.