Top reasons for Ham lease extension

Why you should commence your Ham lease extension today:

A Ham leasehold property depreciates with the years remaining on the lease.

Ham leases on residential properties are gradually losing value. The shorter the remaining lease term becomes, the less it is worth – and accordingly any extension of your lease gets more expensive. The majority of owners of residential leasehold property in Ham enjoy rights under legislation to extend the terms of their leases. If you are a leasehold owner in Ham you really ought to check if your lease has between seventy and ninety years remaining. There are good reasons why a Ham flat owner with a lease having around 80 years left should take action to ensure that a lease extension is actioned without delay

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

It is generally accepted that a residential leasehold with in excess of 100 years remaining is worth approximately the same as a freehold. Where an additional ninety years added to all but the shortest lease, the premises will be worth the same as a freehold for decades to come.

Lending institutions may not issue a mortgage on a short lease

Banks and building societies are inclined not lend on short residential leases. You are likely to encounter problems where you want to sell your flat in Ham if the unexpired term of your lease is below the criteria set by the majority of banks and building societies. Different mortgage companies have different requirements but in the main theyrequire a minimum remaining lease term of 65 years.

What makes us experts in Ham lease extensions?

Lease extensions in Ham can be a difficult process. We recommend you obtain professional help from a lawyer and surveyor 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 in-depth market knowledge dealing with Ham lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Ham Lease Extension Case Summaries:

Natalie, Ham, Surrey,

Following protracted correspondence with the freeholder of her one bedroom flat in Ham, Natalie commenced the lease extension process just as her lease was coming close to the critical eighty-year threshold. The lease extension was finalised in March 2015. The landlord’s charges were restricted to under 500 pounds.

Ham case:

In 2014 we were e-mailed by Mr and Mrs. L Cook who, having took over the lease of a newly refurbished flat in Ham in October 2009. The dilemma was if we could estimate the price would be for a 90 year lease extension. Similar flats in Ham with an extended lease were valued about £243,000. The average ground rent payable was £65 collected annually. The lease lapsed in 2089. Having 63 years unexpired we estimated the premium to the freeholder to extend the lease to be within £20,000 and £23,000 not including expenses.