Stop! Your Lease Extension in Kingsbury Could Be FREE

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Many leaseholders in Kingsbury 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 Kingsbury 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 Kingsbury lease extension

Main reasons to start your Kingsbury lease extension today:

A Kingsbury leasehold property depreciates with the years remaining on the lease.

On the balance of probabilities if you own a flat in Kingsbury you actually own a long leasehold interest over your property

Kingsbury 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 further ninety years added to all but the shortest lease, the premises will be equivalent in value to a freehold for decades to come.

Lenders may decide not to loan monies on a short lease

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

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Leeds Building Society 85 years remaining from the start of the mortgage.
Skipton Building Society 85 years from the date of completion of the mortgage

For Buy to Let cases:
- lettings must not breach any of the lessee’s covenants; and
- consent of the lessor to lettings must be obtained if necessary
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
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 Kingsbury?

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

Kingsbury Lease Extension Example Cases:

Arthur, Kingsbury, North West London

During the course of the last few months Arthur, came precariously near to the eighty-year mark with the lease on his first floor flat in Kingsbury. Having bought his flat 19 years ago, the unexpired term was of no importance. Luckily, he noticed he needed to take steps soon on Extending the lease. Arthur extended the lease just under the wire in September. Arthur and the landlord who owned the flat above ultimately agreed on an amount of £5,000 . If the lease had gone lower than eighty years, the figure would have become more costly by at least £925.

Kingsbury case:

Dr F Clark acquired a newly refurbished apartment in Kingsbury in June 2001. We are asked if we could shed any light on how much (approximately) price could be to extend the lease by 90 years. Comparative flats in Kingsbury with 100 year plus lease were worth £216,000. The average ground rent payable was £60 invoiced annually. The lease expired in 2084. Considering the 58 years left we calculated the compensation to the landlord for the lease extension to be between £28,500 and £33,000 exclusive of expenses.

Decision in Brent

An example of a Lease Extension case for a Kingsbury residence is 27B Hillside in February 2010. the resulting premium, all other aspects of the valuation having been agreed between the parties was set at £8,250 This case was in relation to 1 flat. The number of years remaining on the existing lease(s) was 70.25 years.