Top reasons for Catshill lease extension

Top reasons for lease extension now:

Increase your lease and increase your Catshill property value

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

An extended lease has roughly the same value as a freehold

Leasehold premises in Catshill with more than one hundred years outstanding on the lease are often regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your premises. In such situations there is often little to be gained by buying the reversionary interest unless savings on ground rent and service charges warrant it.

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

Many mortgage companies will not grant a mortgage on a lease with less than seventy years left to run - although this varies between mortgage companies. A purchaser will no doubt find it difficult to obtain a mortgage and this will result in your Catshill property becoming difficult to dispose of or to obtain finance on.

Why use us for your lease extension in Catshill?

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

Catshill Lease Extension Example Cases:

Grace, Catshill, Worcestershire,

In the wake of 9 months of unsuccessful discussions with the freeholder of her first floor apartment in Catshill, Grace commenced the lease extension process just as the lease was nearing the crucial eighty-year mark. The lease extension was concluded in July 2008. The freeholder’s charges were restricted to less than six hundred GBP.

Catshill case:

Mrs Kelsey Allen bought a ground floor apartment in Catshill in May 2002. We are asked if we could approximate the compensation to the landlord could be to prolong the lease by 90 years. Identical premises in Catshill with an extended lease were worth £285,000. The mid-range amount of ground rent was £55 invoiced yearly. The lease finished on 9 January 2105. Having 79 years unexpired we approximated the premium to the landlord to extend the lease to be within £13,300 and £15,400 exclusive of legals.

Catshill case:

Dr V Anderson owned a recently refurbished apartment in Catshill in August 2002. The dilemma was if we could estimate the price would likely be for a 90 year extension to my lease. Comparable premises in Catshill with an extended lease were valued about £193,400. The mid-range amount of ground rent was £65 invoiced quarterly. The lease elapsed in 2085. Considering the 59 years remaining we approximated the compensation to the landlord for the lease extension to be within £21,900 and £25,200 not including fees.