Stop! Your Lease Extension in Homerton Could Be FREE

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Many leaseholders in Homerton 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 Homerton 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 commence your Homerton lease extension

Main reasons to start your Homerton lease extension today:

Increase your lease and increase your Homerton property value

The only way is down when it comes to Homerton lease terms. Homerton properties that have a lease term shorter than eighty years will reduce in value even faster, and the cost of extending your lease will increase.

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

It is conventional wisdom that a property with over 100 years remaining is worth approximately the equivalent as a freehold. Where an additional ninety years added to any lease with more than 35 years remaining, the residence will be equivalent in value to a freehold for many years in the future.

Mortgage lenders will not lend with a short lease

Banks and Building Societies are less likely to give a loan offer on a domestic flat in Homerton with a short lease. Some lenders simply refuse to lend on leases with under 75 years remaining.

Lender Requirement
Barclays plc
Halifax
Nationwide Building Society
The Mortgage Works
Royal Bank of Scotland

What makes us experts in Homerton lease extensions?

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

Homerton Lease Extension Example Cases:

Natasha, Homerton, London,

Subsequent to unsuccessful correspondence with the landlord of her studio flat in Homerton, Natasha commenced the lease extension process as the eighty year threshold was fast nearing. The legal work completed in April 2005. The landlord’s charges were kept to an absolute minimum.

Homerton case:

Last Winter we were e-mailed by Mr and Mrs. M Collins , who was assigned a lease of a one bedroom apartment in Homerton in September 2007. The dilemma was if we could approximate the premium would likely be for a ninety year extension to my lease. Identical flats in Homerton with 100 year plus lease were in the region of £225,400. The mid-range amount of ground rent was £45 collected quarterly. The lease end date was on 19 May 2090. Considering the 64 years remaining we estimated the compensation to the freeholder for the lease extension to be within £15,200 and £17,600 plus fees.

Decision in Hackney

An example of a Freehold Enfranchisement matter before the tribunal for a Homerton flat is 104 Nightingale Road in May 2009. The Tribunal's Decision is that the premium torbe paid for the enfranchisement in this case is £112,174 This case related to 10 flats. The unexpired term as at the valuation date was 71.25 years.