The only way is down when it comes to Hazlemere lease terms. Hazlemere flats that have a lease term lower than 80 years will drop in value at a rapid rate, and the cost of extending your lease will go up.
Leasehold residencies in Hazlemere with over one hundred years remaining on the lease are sometimes regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such situations there is often little to be gained by purchasing the freehold unless savings on ground rent and service charges warrant it.
| Lender | Requirement |
|---|---|
| Coventry Building Society | |
| Halifax | |
| Nationwide Building Society | |
| The Mortgage Works | |
| Virgin |
Regardless of whether you are a tenant or a landlord in Hazlemere,the lease extension experts that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Hazlemere valuers.
In the wake of 9 months of lengthy correspondence with the freeholder of her ground floor apartment in Hazlemere, Chantelle commenced the lease extension process as the eighty year threshold was rapidly advancing. The transaction was finalised in November 2015. The freeholder’s charges were kept to an absolute minimum.
In 2012 we were e-mailed by Mr Caleb Clarke who, having was assigned a lease of a first floor flat in Hazlemere in October 2007. We are asked if we could estimate the price would likely be to prolong the lease by 90 years. Comparative premises in Hazlemere with 100 year plus lease were worth £267,600. The mid-range ground rent payable was £65 billed annually. The lease lapsed on 28 August 2093. Having 67 years as a residual term we approximated the premium to the freeholder to extend the lease to be within £14,300 and £16,400 plus fees.
Mrs Erin Dupont was assigned a lease of a purpose-built apartment in Hazlemere in February 2009. We are asked if we could shed any light on how much (approximately) premium would be to extend the lease by ninety years. Similar flats in Hazlemere with 100 year plus lease were worth £206,200. The average ground rent payable was £55 collected monthly. The lease elapsed in 2082. Taking into account 56 years as a residual term we estimated the compensation to the landlord to extend the lease to be within £31,400 and £36,200 plus fees.