Why you should start your Coombe Dingle lease extension

Main reasons to start your Coombe Dingle lease extension today:

Increase your lease and increase your Coombe Dingle property value

The market value of Coombe Dingle 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

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

It is conventional wisdom that a residential leasehold with in excess of 100 years remaining is worth roughly the equivalent as a freehold. Where an further 90 years added to any lease with more than 35 years left, the property will be worth the same as a freehold for many years in the future.

Mortgage lenders may decide not to issue a mortgage with a short lease

Most banks and building societies will be unwilling to lend on a lease with under 70 years unexpired - although this varies between mortgage companies. A purchaser will undoubtedly find it difficult in obtaining a mortgage and this will result in your Coombe Dingle property becoming difficult to sell or refinance.

Why use us for your lease extension in Coombe Dingle?

Lease extensions in Coombe Dingle can be a difficult process. We recommend you secure guidance from a conveyancer and valuer well versed in the legislation and lease extension process.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have in-depth market knowledge dealing with Coombe Dingle lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Coombe Dingle Lease Extension Example Cases:

Alfie, Coombe Dingle, Bristol,

Alfie owned a studio flat in Coombe Dingle on the market with a lease of fraction over 59 years outstanding. Alfie informally contacted his landlord being a well known London-based freehold company and enquired on a premium to extend the lease. The landlord indicated a willingness to grant an extension taking the lease to 125 years subject to a rise in the rent to £200 per annum. No ground rent would be due on a lease extension were Alfie to exercise his statutory right. Alfie obtained expert advice and secured satisfactory deal informally and sell the property.

Coombe Dingle case:

Mr and Mrs. C Turner purchased a first floor flat in Coombe Dingle in July 2006. The dilemma was if we could shed any light on how much (roughly) compensation to the landlord would be to extend the lease by a further 90 years. Similar residencies in Coombe Dingle with an extended lease were valued about £181,600. The mid-range amount of ground rent was £55 invoiced every twelve months. The lease concluded on 2 March 2078. Taking into account 52 years left we estimated the premium to the landlord for the lease extension to be between £30,400 and £35,200 not including professional charges.

Coombe Dingle case:

Dr Joseph Scott completed a purpose-built apartment in Coombe Dingle in November 2003. The question was if we could shed any light on how much (roughly) compensation to the landlord would likely be to extend the lease by a further 90 years. Comparable homes in Coombe Dingle with a long lease were worth £290,000. The mid-range ground rent payable was £45 billed yearly. The lease finished on 7 August 2098. Taking into account 72 years unexpired we estimated the compensation to the freeholder to extend the lease to be within £11,400 and £13,200 plus expenses.