Stop! Your Lease Extension in East Sheen Could Be FREE

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Many leaseholders in East Sheen are unaware that their original lawyer had a duty to warn them about future mortgageability and saleability issues. Before you pay thousands to your freeholder, let us audit your purchase history. You might have a claim that pays for your lease extension in full

If you are facing a significant premium because your lease in East Sheen has dropped toward the 80-year mark, your previous lawyer may be at fault. Our panel of experts specialise in recovering lease extension costs from negligent firms who failed to protect your investment.

Why you should commence your East Sheen lease extension

Main reasons to start your East Sheen lease extension today:

A East Sheen lease depreciates with the years remaining on the lease.

The market value of East Sheen leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The expense of a lease extension can increase substantially once the remaining term is less than eighty years

An extended lease is almost the same value as a freehold

It is conventional wisdom that a residential leasehold with in excess of 100 years unexpired lease term is worth roughly the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, the residence will be worth the same as a freehold for many years ahead.

Banks and Building Societies may not loan monies on a short lease

Most banks have narrowed their lending criteria in recent years and borrowers are encountering difficulties in arranging funding or re-mortgage against flats with shorter lease terms, particularly under seventy years as they are deemed to be inadequate security.

Lender Requirement
Chelsea Building Society
Halifax
Santander
TSB
Yorkshire Building Society

What makes us experts in East Sheen lease extensions?

The lawyers that we work with undertake East Sheen lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancing solicitor we work with provide it.

East Sheen Lease Extension Case Studies:

Megan, East Sheen, South West London,

Subsequent to lengthy negotiations with the freeholder of her two bedroom flat in East Sheen, Megan initiated the lease extension process as the 80 year deadline was fast coming. The lease extension was concluded in August 2014. The landlord’s costs were negotiated to about 700 GBP.

East Sheen case:

Last Winter we were phoned by Mr and Mrs. I Bonnet , who was assigned a lease of a studio flat in East Sheen in September 2005. We are asked if we could approximate the compensation to the landlord would likely be for a 90 year lease extension. Comparative premises in East Sheen with a long lease were in the region of £235,200. The mid-range ground rent payable was £45 invoiced per annum. The lease expiry date was on 14 July 2092. Given that there were 66 years unexpired we calculated the compensation to the landlord to extend the lease to be between £12,400 and £14,200 plus expenses.

Decision in Wandsworth

An example of a Freehold Enfranchisement matter before the tribunal for a East Sheen premises is 19 St. Margarets Crescent in August 2010. the tribunal was of the view that the premium to be paid by the leaseholder for the freehold reversion was £51,983.00 This case affected 3 flats. The remaining number of years on the lease was 66.25 years.