Stop! Your Lease Extension in Hampton Wick Could Be FREE

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Many leaseholders in Hampton Wick 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 Hampton Wick 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 Hampton Wick lease extension

Why you should commence your Hampton Wick lease extension today:

A Hampton Wick leasehold property depreciates with the years remaining on the lease.

The only way is down when it comes to Hampton Wick lease terms. Hampton Wick properties that have a residual term lower than eighty years will drop in market price even faster, and the cost of extending your lease will go up.

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

Leasehold properties in Hampton Wick with over one hundred years unexpired on the lease are sometimes referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such circumstances there is often little to be gained by purchasing the freehold unless savings on ground rent and estate charges justify it.

Lenders may not lend with a short lease

Banks and building societies differ in their lending requirements. Some set the bar at seventy five years left on the lease; others may be happy with anything with more than 70 years. With less than sixty years, it may be impossible to get a mortgage at all.

Lender Requirement
Accord Mortgages
Barclays plc
Leeds Building Society
The Mortgage Works
Royal Bank of Scotland

Get in touch with one of our Hampton Wick lease extension solicitors or enfranchisement solicitors

Irrespective of whether you are a tenant or a landlord in Hampton Wick,the lease extension solicitors 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 Hampton Wick valuers.

Hampton Wick Lease Extension Case Summaries:

Tia, Hampton Wick, North London,

Trailing unsuccessful discussions with the landlord of her two bedroom flat in Hampton Wick, Tia commenced the lease extension process as the eighty year mark was swiftly approaching. The transaction was finalised in January 2013. The landlord’s fees were restricted to under 500 GBP.

Hampton Wick case:

In 2014 we were phoned by Dr Jude Davies who, having completed a studio flat in Hampton Wick in September 1997. The dilemma was if we could approximate the price could be to prolong the lease by a further 90 years. Comparable premises in Hampton Wick with an extended lease were worth £240,600. The average amount of ground rent was £60 billed per annum. The lease expired in 2088. Taking into account 62 years unexpired we calculated the compensation to the landlord to extend the lease to be within £21,900 and £25,200 plus professional charges.

Decision in Kingston upon Thames

An example of a Lease Extension case for a Hampton Wick property is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case affected 1 flat.