Top reasons for Ditchling lease extension

Main reasons to commence your Ditchling lease extension today:

A Ditchling lease depreciates with the years remaining on the lease.

On the balance of probabilities if you own a flat in Ditchling you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a property with more than 100 years unexpired lease term is worth roughly the same as a freehold. Where an further ninety years added to all but the shortest lease, the residence will be worth the same as a freehold for decades to come.

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

What makes us experts in Ditchling lease extensions?

Lease extensions in Ditchling can be a difficult process. We recommend you secure guidance from a conveyancing solicitor 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 Ditchling lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Ditchling Lease Extension Example Cases:

Leah, Ditchling, East Sussex,

Trailing lengthy correspondence with the landlord of her garden apartment in Ditchling, Leah started the lease extension process as the 80 year mark was swiftly nearing. The legal work completed in June 2007. The freeholder’s fees were negotiated to approximately 550 pounds.

Ditchling case:

Last Autumn we were approach by Ms Bethan Lefèvre , who bought a ground floor flat in Ditchling in September 2012. We are asked if we could approximate the price could be to prolong the lease by 90 years. Identical residencies in Ditchling with 100 year plus lease were in the region of £250,000. The mid-range amount of ground rent was £50 invoiced yearly. The lease terminated in 2094. Taking into account 68 years as a residual term we calculated the premium to the landlord for the lease extension to be between £9,500 and £11,000 plus legals.

Ditchling case:

Dr R Hill bought a one bedroom flat in Ditchling in April 2000. The question was if we could shed any light on how much (approximately) compensation to the landlord would be for a ninety year extension to my lease. Identical premises in Ditchling with an extended lease were valued about £285,000. The mid-range amount of ground rent was £55 invoiced every twelve months. The lease terminated in 2105. Taking into account 79 years unexpired we estimated the premium to the landlord for the lease extension to be between £13,300 and £15,400 exclusive of fees.