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Get a quote from one of our lease extension experts with over 20 years experience.

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Why you should start your Ham lease extension

Why you should commence your Ham lease extension today:

Increase your lease and increase your Ham property value

Chances are that if you own a flat in Ham you actually own a long leasehold interest over your property

Ham property with a lease extension is almost the same value as a freehold

It is generally considered that a property with more than 100 years remaining is worth roughly the equivalent as a freehold. Where an further ninety years added to any lease with more than 45 years remaining, the premises will be equivalent in value to a freehold for many years ahead.

Mortgage lenders will not issue a mortgage with a short lease

Most banks have tightened lending criteria in recent years and borrowers are encountering difficulties in arranging funding or re-mortgage against property with shorter lease terms, particularly under 75 years as they are considered to be insufficient security.

Lender Requirement
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
Coventry Building Society 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.
Lloyds TSB Scotland Minimum 70 years from the date of the mortgage.
National Westminster Bank Mortgage term plus 30 years.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.

Why use us for your lease extension in Ham?

The conveyancers that we work with procure Ham 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 lawyer we work with provide it.

Ham Lease Extension Example Cases:

Isabelle, Ham, Surrey,

Trailing unsuccessful correspondence with the landlord of her basement apartment in Ham, Isabelle started the lease extension process as the 80 year threshold was fast advancing. The lease extension completed in October 2013. The landlord’s fees were kept to an absolute minimum.

Ham case:

Last May we were contacted by Mr J Gray , who was assigned a lease of a ground floor apartment in Ham in May 2012. We are asked if we could approximate the compensation to the landlord could be for a ninety year extension to my lease. Identical homes in Ham with an extended lease were in the region of £295,000. The average ground rent payable was £45 invoiced annually. The lease terminated in 2100. Having 75 years remaining we calculated the premium to the landlord to extend the lease to be between £8,600 and £9,800 not including fees.

Decision in Kingston upon Thames

An example of a Lease Extension matter before the tribunal for a Ham property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.