Stop! Your Lease Extension in Kenton Could Be FREE

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Many leaseholders in Kenton 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 Kenton 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 commence your Kenton lease extension

Main reasons to commence your Kenton lease extension today:

Increase your lease and increase your Kenton property value

Kenton residential property owned on a long lease is a wasting asset as the leaseholder merely owns the property for a set term.

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

It is generally considered that a residential leasehold with more than one hundred years remaining is worth approximately the same as a freehold. Where an additional 90 years added to all but the shortest lease, the residence will be worth the same as a freehold for decades to come.

Mortgage lenders may not loan monies with a short lease

Most banks have tightened 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 75 years as they are regarded as unacceptable for lending purposes.

Lender Requirement
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
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.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.

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

The conveyancing solicitors that we work with undertake Kenton lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancing solicitor we work with provide it.

Kenton Lease Extension Example Cases:

Abbie, Kenton, North London,

Subsequent to unsuccessful correspondence with the landlord of her garden flat in Kenton, Abbie initiated the lease extension process as the eighty year deadline was quickly coming. The transaction completed in April 2010. The freeholder’s costs were negotiated to under 600 GBP.

Kenton case:

Dr M Bertrand owned a purpose-built flat in Kenton in March 2009. We are asked if we could estimate the price could be for a 90 year lease extension. Comparative homes in Kenton with an extended lease were valued about £267,600. The mid-range amount of ground rent was £65 billed per annum. The lease elapsed on 12 March 2093. Given that there were 67 years left we calculated the compensation to the landlord to extend the lease to be between £14,300 and £16,400 not including professional charges.

Decision in Harrow

An example of a Freehold Enfranchisement decision for a Kenton residence is 139/139A Masons Avenue in February 2010. this was a case with an absentee freeholder. As a result the leaseholders applied to Willesden County Court for an order dispensing with the giving of a notice of claim.14th October 2009 District Judge Brar granted a vesting order and the court directed that the matter should be transferred to this tribunal to determine the freehold premium. The tribunal concluded on a figure of £13,000 for the freehold interest This case related to 1 flat. The unexpired residue of the current lease was 74 years.