Top reasons for Greenhithe lease extension

Top reasons for lease extension now:

Increase your lease and increase your Greenhithe property value

The closer a domestic lease in Greenhithe gets to zero years unexpired, the the greater the reduction in the value of the property. Where the lease has, in excess of one hundred years remaining then this decrease may be negligible nevertheless there will become a stage when a lease has fewer than eighty years unexpired as part of the premium you will incur is what is termed as a marriage value. This could be significant. It is the primary rational as to why you should extend the lease without delay. Most flat owners in Greenhithe will qualify for this right; that being said a conveyancing solicitor will be able to confirm if you are eligible to extend your lease. In limited situations you may not qualify, the most common reason being that you have not been the owner of the property for two years.

Greenhithe property with a lease extension is almost the same value as a freehold

It is generally considered that a property with over one hundred years unexpired lease term is worth approximately the equivalent as a freehold. Where an additional ninety years added to any lease with more than 30 years left, the premises will be worth the same as a freehold for many years ahead.

Banks and Building Societies may not lend with a short lease

What makes us experts in Greenhithe lease extensions?

Using our service gives you better control over the value of your Greenhithe leasehold, as your property will be more valuable and marketable in terms of lease length should you decide to sell. The conveyancing solicitors that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Greenhithe Lease Extension Example Cases:

Nicole, Greenhithe, Kent,

In the wake of eight months of protracted correspondence with the freeholder of her one bedroom apartment in Greenhithe, Nicole started the lease extension process just as her lease was nearing the crucial eighty-year threshold. The transaction was concluded in May 2014. The freeholder’s costs were negotiated to below 700 pounds.

Greenhithe case:

Ms Charlotte Khan completed a ground floor apartment in Greenhithe in March 2009. The question was if we could estimate the price would likely be to prolong the lease by 90 years. Identical flats in Greenhithe with an extended lease were worth £290,000. The average ground rent payable was £45 billed quarterly. The lease elapsed in 2099. Having 73 years as a residual term we estimated the premium to the landlord to extend the lease to be between £9,500 and £11,000 not including fees.