Top reasons for Chase Side lease extension

Why you should start your Chase Side lease extension today:

Increase your lease and increase your Chase Side property value

The only way is down when it comes to Chase Side lease terms. Chase Side flats that have a lease term shorter than eighty years will reduce in value even faster, and the cost of extending your lease will increase.

Chase Side property with a lease extension has roughly the same value as a freehold

It is generally accepted that a residential leasehold with more than one hundred years unexpired lease term is worth roughly the same as a freehold. Where an additional ninety years added to all but the shortest lease, the property will be equivalent in value to a freehold for many years in the future.

Lenders will not loan monies on a short lease

Lenders are really restricting their approach as regards to properties in Chase Side with short leases. For instance you might discover that their lending requirements are stricter and that they adjust interest rates depending on the unexpired lease term. Some may even refuse to lend completely, so where you needed to sell, your remaining options would be to find a cash buyer, or try your luck at auction thus reducing the amount of prospective purchasers.

Why use us for your lease extension in Chase Side?

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

Chase Side Lease Extension Case Summaries:

Evan, Chase Side, North London

During the course of the last few months Evan, started to get near to the 80-year mark with the lease on his first floor apartment in Chase Side. Having purchased his home two decades ago, the unexpired term was of no bearing. Thankfully, he became aware that he needed to take action soon on a lease extension. Evan extended the lease at the eleventh hour last January. Evan and the freeholder via the managing agents ultimately agreed on sum of £5,000 . If he had missed the deadline, the price would have gone up by at least £1,100.

Chase Side case:

Dr Niamh Walker bought a studio apartment in Chase Side in June 1998. The dilemma was if we could shed any light on how much (roughly) premium could be for a 90 year extension to my lease. Similar residencies in Chase Side with 100 year plus lease were worth £280,000. The average amount of ground rent was £55 invoiced yearly. The lease expired in 2103. Taking into account 77 years outstanding we approximated the compensation to the landlord to extend the lease to be within £13,300 and £15,400 not including professional charges.