Top reasons for Chorleywood and Rickmansworth lease extension

Main reasons to commence your Chorleywood and Rickmansworth lease extension today:

Increase your lease and increase your Chorleywood and Rickmansworth property value

The only way is down when it comes to Chorleywood and Rickmansworth lease terms. Chorleywood and Rickmansworth flats that have a lease term less than than 80 years will reduce in value at a rapid rate, and the cost of extending your lease will increase.

An extended lease is almost the same value as a freehold

It is conventional wisdom that a property with over one hundred years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to all but the shortest lease, the residence will be worth the same as a freehold for many years in the future.

Mortgage lenders may not loan monies with a short lease

Mortgage companies are making their criteria more stringent and a meaningful number now expect flats to have at least 60 if not 70 years left once the mortgage has expired. Considering many flats in Chorleywood and Rickmansworth were built in the fifties, sixties and seventies as a result many now require lease extensions if they wish to obtain a mortgage.

Why use us for your lease extension in Chorleywood and Rickmansworth?

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

Chorleywood and Rickmansworth Lease Extension Example Cases:

Dylan, Chorleywood and Rickmansworth, Hertfordshire

Last Summer Dylan, started to get near to the 80-year threshold with the lease on his purpose- built apartment in Chorleywood and Rickmansworth. In buying his property 19 years ago, the unexpired term was of little interest. As luck would have it, he recognised he would soon be paying an inflated amount for a lease extension. Dylan arranged for a lease extension just under the wire in May. Dylan and the landlord in the end agreed on an amount of £5,000 . If he had missed the deadline, the premium would have become more exhorbitant by a minimum £950.

Chorleywood and Rickmansworth case:

Last Winter we were called by Mrs K Torres , who was assigned a lease of a ground floor flat in Chorleywood and Rickmansworth in July 1996. The dilemma was if we could shed any light on how much (approximately) compensation to the landlord would likely be for a 90 year lease extension. Comparable properties in Chorleywood and Rickmansworth with an extended lease were valued around £225,800. The mid-range ground rent payable was £60 billed monthly. The lease end date was on 20 June 2086. Having 60 years remaining we approximated the compensation to the freeholder for the lease extension to be within £23,800 and £27,400 plus professional charges.