Top reasons for Esher lease extension

Main reasons to commence your Esher lease extension today:

Increase your lease and increase your Esher property value

Owning a apartment usually means owning a lease of the property, which has a finite term of years. The lease will normally be granted for a set period of time , usually 99 or 125 years, although we have witnessed longer and shorter terms in Esher. Clearly, the period of lease remaining shortens as time goes by. This may pass by relatively unnoticed when the residence has to be disposed of or re-mortgaged. The shorter the lease the less it is worth and the more expensive it will be to extend the lease. Eligible long lease owners in Esher have the legal entitlement to extend the lease for a further 90 years under statute. Do give careful attention before putting off your Esher lease extension. Holding off the cost now only increases the price you will ultimately incur to extend your lease

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

It is generally accepted that a property with in excess of one hundred years unexpired lease term is worth roughly the same as a freehold. Where an additional 90 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 finance a property with a short lease

Most mortgage lenders will be unwilling to grant a mortgage on a lease with less than 70 years unexpired - although this varies from lender to lender. A buyer will undoubtedly find it difficult to obtain a mortgage and this will result in your Esher property becoming difficult to sell or to obtain finance on.

Why use us for your lease extension in Esher?

Lease extensions in Esher can be a difficult process. We recommend you get professional help from a conveyancing solicitor and valuer with experience in lease extensions.

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 a wealth of experience dealing with Esher lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Esher Lease Extension Case Summaries:

Ella, Esher, Surrey,

Trailing protracted correspondence with the freeholder of her basement flat in Esher, Ella initiated the lease extension process as the eighty year threshold was rapidly nearing. The legal work completed in August 2011. The freeholder’s costs were negotiated to below 500 pounds.

Esher case:

Last Summer we were contacted by Mr and Mrs. Y Lefèvre , who completed a ground floor apartment in Esher in May 2003. We are asked if we could estimate the price could be to extend the lease by ninety years. Comparative flats in Esher with 100 year plus lease were in the region of £256,600. The mid-range amount of ground rent was £60 billed monthly. The lease elapsed in 2077. Considering the 52 years unexpired we calculated the compensation to the freeholder to extend the lease to be between £39,000 and £45,000 not including professional charges.