Main reasons to start your Barton Le Clay lease extension

Main reasons to start your Barton Le Clay lease extension today:

Increase your lease and increase your Barton Le Clay property value

Chances are that where you own a flat in Barton Le Clay you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

Leasehold residencies in Barton Le Clay with in excess of one hundred years left on the lease are often regarded as a ‘virtual freehold’. This is where the lease is worth the same as a freehold interest in your premises. In such circumstances there is often little upside in purchasing the reversionary interest unless savings on ground rent and maintenance charges warrant it.

Lenders will not issue a mortgage with a short lease

Lenders are tightening their criteria and a meaningful number now require flats to have a minimum of sixty if not seventy years remaining once the mortgage has expired. As many flats in Barton Le Clay were created in the 1950s, 1960s and 1970s this means many now require lease extensions if they if they are to be mortgageable.

What makes us experts in Barton Le Clay lease extensions?

Lease extensions in Barton Le Clay can be a difficult process. We recommend you procure guidance from a lawyer and valuer well versed in the legislation and lease extension process.

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 in-depth market knowledge procuring Barton Le Clay lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Barton Le Clay Lease Extension Case Studies:

Nicole, Barton Le Clay, Bedfordshire,

Subsequent to unsuccessful negotiations with the freeholder of her one bedroom apartment in Barton Le Clay, Nicole started the lease extension process just as the lease was coming close to the critical eighty-year threshold. The legal work was concluded in April 2014. The landlord’s fees were kept to an absolute minimum.

Barton Le Clay case:

Mr and Mrs. W Bertrand acquired a studio flat in Barton Le Clay in October 2007. We are asked if we could shed any light on how much (roughly) premium could be for a 90 year extension to my lease. Similar residencies in Barton Le Clay with a long lease were in the region of £275,000. The mid-range amount of ground rent was £55 collected per annum. The lease ran out in 2102. Considering the 76 years as a residual term we estimated the compensation to the freeholder for the lease extension to be within £9,500 and £11,000 not including professional charges.

Barton Le Clay case:

Last Autumn we were phoned by Dr Eleanor Richardson , who was assigned a lease of a one bedroom apartment in Barton Le Clay in August 2006. We are asked if we could shed any light on how much (approximately) price could be to extend the lease by a further 90 years. Comparative properties in Barton Le Clay with a long lease were in the region of £176,200. The average amount of ground rent was £65 billed per annum. The lease lapsed on 21 April 2082. Taking into account 56 years left we approximated the premium to the freeholder for the lease extension to be within £29,500 and £34,000 plus professional charges.