Stop! Your Lease Extension in Hammersmith And Fulham Could Be FREE

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Many leaseholders in Hammersmith And Fulham 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 Hammersmith And Fulham 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 Hammersmith And Fulham lease extension

Main reasons to commence your Hammersmith And Fulham lease extension today:

A Hammersmith And Fulham leasehold property depreciates with the years remaining on the lease.

On the balance of probabilities where you own a flat in Hammersmith And Fulham you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is generally considered that a property with more than 100 years remaining is worth approximately the equivalent 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 many years in the future.

Banks and Building Societies may not grant a mortgage with a short lease

Most mortgage lenders have narrowed their lending criteria in recent years and borrowers are finding it increasingly difficult to raise finance or re-mortgage against flats with shorter lease terms, particularly under seventy years as they are deemed to be deficient for lending purposes.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Godiva Mortgages A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
Lloyds TSB Scotland Minimum 70 years from the date of the mortgage.
Skipton Building Society 85 years from the date of completion of the mortgage

For Buy to Let cases:
- lettings must not breach any of the lessee’s covenants; and
- consent of the lessor to lettings must be obtained if necessary
Virgin 85 years at the time of completion. If it's less, we require it to be extended on or before completion.

What makes us experts in Hammersmith And Fulham lease extensions?

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

Hammersmith And Fulham Lease Extension Example Cases:

Luke, Hammersmith And Fulham, West London

Last October Luke, started to get near to the eighty-year threshold with the lease on his ground floor apartment in Hammersmith And Fulham. In buying his property two decades ago, the lease term was of minimal relevance. Fortunately, he noticed he would soon be paying an inflated amount for Extending the lease. Luke arranged for a lease extension just ahead of time in May. Luke and the landlord who owned the flat above in the end agreed on sum of £5,500 . If he failed to meet the deadline, the amount would have escalated by at least £925.

Hammersmith And Fulham case:

Last Spring we were e-mailed by Ms Bethan Morgan , who moved into a purpose-built flat in Hammersmith And Fulham in February 1999. We are asked if we could approximate the premium would likely be for a ninety year extension to my lease. Similar premises in Hammersmith And Fulham with a long lease were valued about £290,000. The average amount of ground rent was £45 invoiced every twelve months. The lease ended in 2098. Given that there were 72 years unexpired we approximated the compensation to the landlord for the lease extension to be between £9,500 and £11,000 not including professional charges.

Hammersmith And Fulham case:

Mr J Bell was assigned a lease of a one bedroom apartment in Hammersmith And Fulham in August 2008. We are asked if we could shed any light on how much (roughly) premium would likely be to extend the lease by a further 90 years. Comparable residencies in Hammersmith And Fulham with an extended lease were valued around £235,600. The mid-range amount of ground rent was £60 billed monthly. The lease ran out in 2088. Considering the 62 years as a residual term we calculated the premium to the landlord for the lease extension to be within £21,900 and £25,200 not including expenses.