Top reasons for Maidenhead lease extension

Main reasons to commence your Maidenhead lease extension today:

Increase your lease and increase your Maidenhead property value

For anyone whose Maidenhead flat is held on a long lease, our message is clear – if no remedial action is taken, your property will eventually revert to the freeholder, leaving you empty-handed. The fewer the years remaining the lower the value of the property and the more it will cost to extend the lease.

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

It is conventional wisdom that a property with in excess of one hundred years remaining is worth approximately the same as a freehold. Where an further ninety years added to all but the shortest lease, the property will be worth the same as a freehold for decades to come.

Mortgage lenders may decide not to issue a mortgage on a short lease

Most high street banks are tightening their criteria and a meaningful number now want flats to have a minimum of sixty if not seventy years left at the end of the mortgage. As plenty of flats in Maidenhead were created in the fifties, sixties and seventies this means many now need to be extended if they if they are to be mortgageable.

Why use us for your lease extension in Maidenhead?

Using our service will provide you increased control over the value of your Maidenhead 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 have a wealth of experience of handling many hundreds of lease extensions or freehold purchase transactions.

Maidenhead Lease Extension Example Cases:

Rosie, Maidenhead, Berkshire,

After unsuccessful discussions with the freeholder of her leasehold apartment in Maidenhead, Rosie initiated the lease extension process just as the lease was nearing the crucial eighty-year deadline. The lease extension was concluded in August 2011. The freeholder’s costs were restricted to slightly above 600 GBP.

Maidenhead case:

Last Winter we were called by Mrs Madeleine Phillips , who moved into a basement apartment in Maidenhead in September 1999. The question was if we could shed any light on how much (roughly) compensation to the landlord would be for a 90 year lease extension. Identical residencies in Maidenhead with an extended lease were in the region of £265,000. The average amount of ground rent was £50 billed quarterly. The lease elapsed in 2100. Considering the 74 years unexpired we estimated the premium to the freeholder to extend the lease to be within £9,500 and £11,000 exclusive of fees.

Maidenhead case:

Dr Noah Hill was assigned a lease of a garden apartment in Maidenhead in July 2004. The dilemma was if we could estimate the price would be for a 90 year extension to my lease. Similar residencies in Maidenhead with a long lease were worth £166,400. The mid-range amount of ground rent was £60 invoiced every twelve months. The lease ran out in 2080. Considering the 54 years remaining we approximated the compensation to the freeholder for the lease extension to be between £32,300 and £37,400 plus fees.