Main reasons to commence your Aspley Guise lease extension

Top reasons for lease extension now:

Increase your lease and increase your Aspley Guise property value

The only way is down when it comes to Aspley Guise lease terms. Aspley Guise properties that have a remaining term fewer than eighty years will reduce in value at a rapid rate, and the cost to extend your lease will rise.

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a property with in excess of one hundred years unexpired lease term is worth roughly the equivalent as a freehold. Where an further ninety years added to any lease with more than 35 years left, the premises will be worth the same as a freehold for many years ahead.

Banks and Building Societies may decide not to finance a property on a short lease

Banks and Building Societies have specific criteria when loaning monies charged on leasehold property. Many will simply refrain from lending at all once an unexpired lease term goes under a certain unexpired lease term. Many Mortgage lenders will not regard property with a remaining below seventy years suitable security. As well as impacting your ability to sell, it is also relevant if you are intending to refinance your Aspley Guise home.

What makes us experts in Aspley Guise lease extensions?

Engaging our service will provide you better control over the value of your Aspley Guise leasehold, as your property will be more valuable and saleable in terms of lease length should you decide to sell. The lawyers that we work with have a in-depth market knowledge handling many hundreds of lease extensions or freehold purchase transactions.

Aspley Guise Lease Extension Example Cases:

Chantelle, Aspley Guise, Bedfordshire,

In the wake of 9 months of unsuccessful discussions with the landlord of her purpose-built flat in Aspley Guise, Chantelle started the lease extension process just as her lease was approaching the crucial 80-year deadline. The transaction completed in October 2005. The freeholder’s charges were negotiated to below 450 pounds.

Aspley Guise case:

Last Summer we were phoned by Dr B Jones , who moved into a first floor apartment in Aspley Guise in March 2004. The dilemma was if we could shed any light on how much (approximately) premium could be to extend the lease by an additional years. Comparative residencies in Aspley Guise with a long lease were valued about £300,000. The average amount of ground rent was £50 billed yearly. The lease came to a finish in 2101. Taking into account 75 years remaining we approximated the premium to the freeholder for the lease extension to be within £9,500 and £11,000 plus professional charges.

Aspley Guise case:

In 2014 we were called by Mrs D Leroy who, having moved into a one bedroom flat in Aspley Guise in January 2001. The question was if we could estimate the premium could be for a ninety year lease extension. Comparative homes in Aspley Guise with an extended lease were valued around £250,400. The mid-range ground rent payable was £65 billed quarterly. The lease terminated in 2090. Given that there were 64 years outstanding we calculated the compensation to the freeholder to extend the lease to be between £19,000 and £22,000 plus fees.