Why you should commence your West Ealing lease extension

Top reasons for lease extension now:

A West Ealing leasehold property depreciates with the years remaining on the lease.

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

An extended lease is almost the same value as a freehold

It is conventional wisdom that a residential leasehold with over one hundred years unexpired lease term is worth roughly the same as a freehold. Where an further ninety years added to any lease with more than 45 years left, the property will be worth the same as a freehold for many years ahead.

Banks and Building Societies will not grant a mortgage on a short lease

Why use us for your lease extension in West Ealing?

Lease extensions in West Ealing can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this area.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have a wealth of experience procuring West Ealing lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

West Ealing Lease Extension Example Cases:

Eliot, West Ealing, West London,

Eliot owned a conversion flat in West Ealing on the market with a lease of a few days over 61 years outstanding. Eliot on an informal basis contacted his freeholder a well known Bristol-based freehold company and enquired on a premium to extend the lease. The freeholder was prepared to grant an extension on non-statutory terms taking the lease to 125 years on the basis of a new rent initially set at £200 per annum and doubled every twenty five years thereafter. Ordinarily, ground rent would not be payable on a lease extension were Eliot to invoke his statutory right. Eliot obtained expert advice and was able to make a more informed judgement and deal with the matter and readily saleable.

West Ealing case:

Last Summer we were called by Mr and Mrs. B García , who took over the lease of a studio apartment in West Ealing in April 2002. The question was if we could approximate the price would likely be for a ninety year extension to my lease. Identical properties in West Ealing with 100 year plus lease were in the region of £257,800. The average ground rent payable was £65 billed per annum. The lease expired on 16 February 2091. Taking into account 65 years left we approximated the premium to the freeholder to extend the lease to be within £17,100 and £19,800 plus fees.