Stop! Your Lease Extension in Isleworth Could Be FREE

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Many leaseholders in Isleworth 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 Isleworth 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.

Why you should start your Isleworth lease extension

Why you should commence your Isleworth lease extension today:

A Isleworth lease depreciates with the years remaining on the lease.

The only way is down when it comes to Isleworth lease terms. Isleworth flats that have a residual term fewer than eighty years will reduce in market price at a rapid rate, and the cost of extending your lease will go up.

Isleworth property with a lease extension has roughly the same value as a freehold

It is generally considered that a property with over one hundred years unexpired lease term is worth approximately the same as a freehold. Where an further ninety years added to any lease with more than 30 years left, the residence will be worth the same as a freehold for many years ahead.

Lending institutions will not lend with a short lease

Nearly all mortgage companies will be unwilling to lend on a lease with under 70 years remaining - although this varies between mortgage companies. A buyer will undoubtedly find it difficult in obtaining a mortgage and this will result in your Isleworth property becoming difficult to sell or to obtain finance on.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Chelsea Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
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.
Halifax Minimum 70 years from the date of the mortgage.
Virgin 85 years at the time of completion. If it's less, we require it to be extended on or before completion.

Why use us for your lease extension in Isleworth?

Irrespective of whether you are a tenant or a landlord in Isleworth,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 experience and the close ties they enjoy with Isleworth valuers.

Isleworth Lease Extension Example Cases:

Omar, Isleworth, West London

14 months ago Omar, started to get close to the 80-year mark with the lease on his ground floor flat in Isleworth. Having purchased his home 18 years previously, the length of the lease was of no relevance. As luck would have it, he realised he would imminently be paying an inflated amount for a lease extension. Omar was able to extend his lease just ahead of time last January. Omar and the freeholder eventually agreed on the final figure of £5,500 . If the lease had dipped below eighty years, the amount would have escalated by a minimum £1,050.

Isleworth case:

Last November we were approach by Mr and Mrs. E Dupont , who bought a purpose-built apartment in Isleworth in February 1996. We are asked if we could approximate the premium could be for a 90 year lease extension. Comparable residencies in Isleworth with a long lease were worth £280,000. The mid-range ground rent payable was £45 billed every twelve months. The lease ended on 22 November 2096. Having 70 years left we calculated the compensation to the freeholder to extend the lease to be between £12,400 and £14,200 plus expenses.

Decision in Hounslow

An example of a Lease Extension decision for a Isleworth residence is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case was in relation to 1 flat. The unexpired term as at the valuation date was 60.45 years.