Stop! Your Lease Extension in Bush Hill Park Could Be FREE

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Many leaseholders in Bush Hill Park 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 Bush Hill Park 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.

Top reasons for Bush Hill Park lease extension

Why you should commence your Bush Hill Park lease extension today:

A Bush Hill Park lease depreciates with the years remaining on the lease.

The market value of Bush Hill Park leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of extending the lease can increase substantially once the remaining term is below than 80 years

Bush Hill Park property with a lease extension has roughly the same value as a freehold

Leasehold residencies in Bush Hill Park with in excess of one hundred years unexpired on the lease are sometimes regarded as a ‘virtual freehold’. This is where the lease is worth the same as a freehold interest in your property. In such circumstances there is often little to be gained by buying the reversionary interest unless savings on ground rent and service charges merit it.

Lending institutions will not lend with a short lease

Mortgage Lenders are distinct in their lending requirements. Some draw the line at 75 years outstanding on the lease; others may be willing to lend with anything over 70 years. Below sixty years, it may be problematic to get a mortgage at all.

Lender Requirement
Barclays plc
Coventry Building Society
Halifax
Nationwide Building Society
Skipton Building Society

What makes us experts in Bush Hill Park lease extensions?

Irrespective of whether you are a tenant or a landlord in Bush Hill Park,the lease extension lawyers that we work with will always be willing to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Bush Hill Park valuers.

Bush Hill Park Lease Extension Example Cases:

Hannah, Bush Hill Park, North London,

Off the back of protracted correspondence with the landlord of her two bedroom apartment in Bush Hill Park, Hannah started the lease extension process just as her lease was approaching the all-important eighty-year mark. The transaction completed in September 2011. The landlord’s charges were kept to an absolute minimum.

Bush Hill Park case:

Dr Danielle Johnson purchased a ground floor apartment in Bush Hill Park in June 2004. The dilemma was if we could shed any light on how much (roughly) price could be for a ninety year lease extension. Comparable flats in Bush Hill Park with a long lease were valued around £166,400. The average amount of ground rent was £60 collected yearly. The lease elapsed in 2080. Taking into account 54 years outstanding we approximated the compensation to the freeholder to extend the lease to be between £32,300 and £37,400 exclusive of costs.

Decision in Haringey

An example of a Lease Extension case for a Bush Hill Park property is First Floor Flat 109 Lyndhurst Road in May 2010. Following a vesting order by Edmonton County Court on 29th October 2009 the Tribunal decided on a figure of £5,012 for a lease extension. This case related to 1 flat. The unexpired term was 81.79 years.