Main reasons to start your Yeading lease extension

Main reasons to start your Yeading lease extension today:

Increase your lease and increase your Yeading property value

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

An extended lease is almost the same value as a freehold

Leasehold premises in Yeading with more than one hundred years outstanding on the lease are often referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your property. In such circumstances there is often little upside in purchasing the freehold unless savings on ground rent and service charges justify it.

Banks and Building Societies may not loan monies with a short lease

Lenders are making their criteria more stringent and many now want flats to have at least sixty if not seventy years left once the mortgage has expired. Considering many flats in Yeading were created in the 1950s, 1960s and 1970s as a result many now need to be extended if they if they are to be mortgageable.

Why use us for your lease extension in Yeading?

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

Yeading Lease Extension Example Cases:

Riley, Yeading, North London

During the course of the last few months Riley, started to get close to the eighty-year mark with the lease on his first floor flat in Yeading. In buying his flat 19 years ago, the length of the lease was of little relevance. Luckily, he recognised he needed to take action soon on a lease extension. Riley extended the lease at the eleventh hour last March. Riley and the freeholder in the end agreed on the final figure of £5,000 . If he not met the deadline, the price would have become more exhorbitant by at least £1,050.

Yeading case:

Last month we were approach by Mrs Emily Petit , who took over the lease of a garden apartment in Yeading in March 2009. The question was if we could estimate the price would likely be to prolong the lease by a further 90 years. Comparable residencies in Yeading with an extended lease were in the region of £254,200. The mid-range ground rent payable was £60 invoiced per annum. The lease concluded on 9 June 2077. Given that there were 51 years remaining we calculated the compensation to the landlord for the lease extension to be between £43,700 and £50,600 plus professional charges.