Stop! Your Lease Extension in Surbiton Could Be FREE

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Many leaseholders in Surbiton 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 Surbiton 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 Surbiton lease extension

Why you should start your Surbiton lease extension today:

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

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

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

It is conventional wisdom that a property with more than 100 years unexpired lease term is worth roughly the same as a freehold. Where an additional ninety years added to any lease with more than 45 years unexpired, the residence will be worth the same as a freehold for many years ahead.

Mortgage lenders may not lend with a short lease

Mortgage lenders have set criteria when loaning funds charged on leasehold homes. Some will simply refrain from lending at all once the residual lease term slips lower than a specified unexpired lease term. Many Lending institutions will not consider property with a remaining below seventy years as acceptable security. As well as this being important when selling, it is also relevant where you are wanting to refinance your Surbiton home.

Lender Requirement
Accord Mortgages 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
Birmingham Midshires 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

Why use us for your lease extension in Surbiton?

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

Surbiton Lease Extension Example Cases:

Poppy, Surbiton, South West London,

In the wake of 6 months of protracted negotiations with the landlord of her garden flat in Surbiton, Poppy commenced the lease extension process just as the lease was coming close to the critical eighty-year deadline. The lease extension was finalised in February 2005. The landlord’s charges were restricted to about six hundred pounds.

Surbiton case:

In 2011 we were called by Mr William Morel who, having was assigned a lease of a first floor apartment in Surbiton in August 2000. We are asked if we could estimate the premium could be to prolong the lease by a further 90 years. Comparative homes in Surbiton with an extended lease were worth £210,000. The average ground rent payable was £50 billed monthly. The lease expiry date was on 18 June 2106. Having 80 years remaining we approximated the premium to the landlord to extend the lease to be within £8,600 and £9,800 not including expenses.

Decision in Kingston upon Thames

An example of a Lease Extension case for a Surbiton 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 related to 1 flat.