Top reasons for Hartfield lease extension

Main reasons to commence your Hartfield lease extension today:

Increase your lease and increase your Hartfield property value

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

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

It is generally accepted that a residential leasehold with more than 100 years remaining is worth approximately the equivalent as a freehold. Where an further ninety years added to any lease with more than 30 years left, the property will be equivalent in value to a freehold for many years ahead.

Lending institutions will not grant a mortgage with a short lease

Most mortgage lenders have constrained their lending criteria in the last ten years and borrowers are finding it increasingly difficult to raise finance or re-mortgage against property with shorter lease terms, particularly below 75 years as they are regarded as unacceptable for lending purposes.

Why use us for your lease extension in Hartfield?

Irrespective of whether you are a tenant or a landlord in Hartfield,the lease extension experts that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Hartfield valuers.

Hartfield Lease Extension Case Summaries:

Charlie, Hartfield, East Sussex,

Charlie was the the leasehold owner of a studio apartment in Hartfield being sold with a lease of just over fifty eight years outstanding. Charlie on an informal basis spoke with his landlord being a well known local-based freehold company for a lease extension. The freeholder was keen to agree an extension on non-statutory terms taking the lease to 125 years subject to a new rent at the outset set at £150 per annum and doubled every 25 years thereafter. No ground rent would be payable on a lease extension were Charlie to invoke his statutory right. Charlie obtained expert advice and was able to make a more informed judgement and handle with the matter and readily saleable.

Hartfield case:

Dr E Wright purchased a garden apartment in Hartfield in October 2006. The dilemma was if we could approximate the compensation to the landlord would likely be for a 90 year extension to my lease. Comparative homes in Hartfield with an extended lease were valued about £220,400. The mid-range ground rent payable was £45 billed per annum. The lease lapsed on 22 November 2090. Considering the 64 years unexpired we calculated the premium to the landlord to extend the lease to be within £15,200 and £17,600 exclusive of fees.

Hartfield case:

Last Autumn we were e-mailed by Mr and Mrs. R Johnson , who moved into a one bedroom apartment in Hartfield in February 1997. We are asked if we could approximate the compensation to the landlord would likely be to extend the lease by ninety years. Similar flats in Hartfield with a long lease were worth £270,000. The mid-range ground rent payable was £55 billed quarterly. The lease concluded in 2101. Taking into account 75 years outstanding we estimated the premium to the freeholder for the lease extension to be within £9,500 and £11,000 plus professional charges.