Stop! Your Lease Extension in Finsbury Park Could Be FREE

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Many leaseholders in Finsbury Park 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 Finsbury Park 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.

Main reasons to start your Finsbury Park lease extension

Top reasons for lease extension now:

Increase your lease and increase your Finsbury Park property value

Chances are that where you own a flat in Finsbury Park 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 residential leasehold with in excess of 100 years remaining is worth roughly the equivalent as a freehold. Where an further ninety years added to all but the shortest lease, the property will be equivalent in value to a freehold for decades to come.

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

Most mortgage lenders have tightened lending criteria in the last ten years and borrowers are finding it increasingly difficult to raise funding or re-mortgage against flats with shorter lease terms, particularly under seventy years as they are deemed to be insufficient security.

Lender Requirement
Chelsea Building Society
Coventry Building Society
National Westminster Bank
Virgin
Yorkshire Building Society

Why use us for your lease extension in Finsbury Park?

Irrespective of whether you are a tenant or a landlord in Finsbury Park,the lease extension lawyers that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Finsbury Park valuers.

Finsbury Park Lease Extension Case Summaries:

Jasmine, Finsbury Park, North London,

Subsequent to protracted correspondence with the landlord of her basement flat in Finsbury Park, Jasmine initiated the lease extension process as the 80 year threshold was fast approaching. The legal work was finalised in November 2013. The freeholder’s fees were restricted to below 700 pounds.

Finsbury Park case:

In 2012 we were approached by Mr and Mrs. R Turner who, having acquired a ground floor flat in Finsbury Park in April 2001. The dilemma was if we could estimate the compensation to the landlord would be to prolong the lease by a further 90 years. Comparative flats in Finsbury Park with a long lease were in the region of £200,000. The mid-range ground rent payable was £50 collected every twelve months. The lease finished in 2104. Given that there were 78 years outstanding we calculated the compensation to the landlord to extend the lease to be between £8,600 and £9,800 exclusive of fees.

Decision in Haringey

An example of a Freehold Enfranchisement matter before the tribunal for a Finsbury Park premises is 51 Lorne Road in November 2009. The price Payable as decided by the tribunal for the freehold reversion was £27,000. The valuation follows the order of the County Court made on 3 April 2008 granting a vesting order. This case affected 1 flat. The unexpired term was 71 years.