Stop! Your Lease Extension in Hammersmith Could Be FREE

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Many leaseholders in Hammersmith 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 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.

Top reasons for Hammersmith lease extension

Main reasons to commence your Hammersmith lease extension today:

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

The closer a domestic lease in Hammersmith gets to zero years unexpired, the more it reduces the value of the property. If the lease has, beyond 125 years to run then this decrease may be fractional that being said there will become a point in time when a lease has less than 80 years remaining as part of the premium you will incur is what is termed as a marriage value. This could be significant. It is the primary reason why you should consider extending sooner than later. The majority of flat owners in Hammersmith will meet the qualifying criteria; that being said a conveyancer should be able to advise if you qualify to extend your lease. In limited situations you may not qualify, the most frequent reason being that you have not been the owner of the property for two years.

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

It is conventional wisdom that a residential leasehold with over 100 years unexpired lease term is worth approximately the same as a freehold. Where an further ninety years added to all but the shortest lease, the residence 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

Mortgage Lenders vary in their lending criteria. Some draw the line at seventy five years remaining on the lease; others may be willing to lend with anything in excess 70 years. Below 60 years, it may be difficult to obtain a mortgage at all.

Lender Requirement
Coventry Building Society
National Westminster Bank
Santander
TSB
Royal Bank of Scotland

What makes us experts in Hammersmith lease extensions?

Irrespective of whether you are a tenant or a freeholder in Hammersmith,the lease extension experts that we work with will always be willing 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 valuers.

Hammersmith Lease Extension Example Cases:

Kate, Hammersmith, West London,

Subsequent to lengthy discussions with the freeholder of her basement flat in Hammersmith, Kate commenced the lease extension process just as her lease was approaching the crucial eighty-year threshold. The transaction completed in June 2015. The landlord’s fees were kept to an absolute minimum.

Hammersmith case:

Last year we were called by Dr Sarah Jones , who moved into a newly refurbished flat in Hammersmith in April 2011. We are asked if we could shed any light on how much (roughly) premium would be to prolong the lease by 90 years. Similar flats in Hammersmith with an extended lease were worth £265,000. The mid-range amount of ground rent was £50 billed every twelve months. The lease ran out in 2099. Considering the 73 years left we estimated the premium to the freeholder to extend the lease to be between £9,500 and £11,000 plus expenses.

Decision in Hammersmith and Fulham

An example of a Freehold Enfranchisement matter before the tribunal for a Hammersmith premises is 19 Crisp Road in June 2009. Following a vesting order (Under section 26 of the Leasehold Reform,Housing and Urban Development Act 1993) The tribunal determined that the premium payable for the acquisition of the freehold was £33,756,apportioned as to£12,285 for the lower at and £21,471for the upper fat. This case affected 2 flats. The unexpired residue of the current lease was 68.32 years.