Top reasons for Cleckheaton lease extension

Main reasons to start your Cleckheaton lease extension today:

Increase your lease and increase your Cleckheaton property value

Chances are that if you own a flat in Cleckheaton you actually own a long leasehold interest over your property

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

It is generally accepted that a residential leasehold with over 100 years remaining is worth approximately the same as a freehold. Where an further ninety years added to any lease with more than 45 years remaining, the premises will be equivalent in value to a freehold for many years in the future.

Banks and Building Societies may not finance a property on a short lease

Lending institutions have set criteria when lending monies secured on leasehold property. Many will simply refrain from lending at all once the residual lease term goes below a certain unexpired lease term. Many Mortgage lenders will not consider property with an unexpired term of less than seventy years as acceptable security. As well as this being important when selling, it is also relevant where you are intending to remortgage your Cleckheaton home.

Why use us for your lease extension in Cleckheaton?

Retaining our service gives you increased control over the value of your Cleckheaton leasehold, as your property will be more valuable and saleable 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.

Cleckheaton Lease Extension Example Cases:

Natalie, Cleckheaton, West Yorkshire,

Off the back of protracted correspondence with the freeholder of her studio apartment in Cleckheaton, Natalie initiated the lease extension process just as the lease was nearing the crucial 80-year threshold. The legal work was finalised in February 2012. The landlord’s fees were kept to an absolute minimum.

Cleckheaton case:

Dr A Reed moved into a first floor flat in Cleckheaton in August 2000. We are asked if we could shed any light on how much (approximately) premium would be for a ninety year lease extension. Identical residencies in Cleckheaton with 100 year plus lease were worth £285,000. The mid-range amount of ground rent was £45 invoiced every twelve months. The lease came to a finish on 15 August 2098. Taking into account 72 years unexpired we calculated the compensation to the freeholder to extend the lease to be within £12,400 and £14,200 not including fees.

Cleckheaton case:

Last month we were approach by Mr and Mrs. K Lambert , who acquired a purpose-built flat in Cleckheaton in March 1999. The dilemma was if we could shed any light on how much (approximately) price could be to extend the lease by ninety years. Similar residencies in Cleckheaton with an extended lease were worth £233,200. The average ground rent payable was £60 billed every twelve months. The lease lapsed on 19 August 2087. Taking into account 61 years as a residual term we estimated the compensation to the landlord to extend the lease to be between £22,800 and £26,400 not including costs.