The rule of thumb is, all other factors being equal, the shorter the lease the more expensive the premium. Qualifying leaseholders in Lakenham have the right to extend the lease for a further 90 years in accordance with legislation. Do think carefully before delaying your Lakenham lease extension. Putting off the costs now simply increases the amount you will eventually have to pay for a lease extension.
It is conventional wisdom that a residential leasehold with in excess of one hundred years remaining is worth roughly the same as a freehold. Where an further 90 years added to all but the shortest lease, the residence will be worth the same as a freehold for many years in the future.
| Lender | Requirement |
|---|---|
| Barnsley Building Society | |
| Birmingham Midshires | |
| Leeds Building Society | |
| Skipton Building Society | |
| Royal Bank of Scotland |
Lease extensions in Lakenham can be a difficult process. We recommend you secure professional help from a conveyancer and surveyor with experience in lease extensions.
We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have a wealth of experience procuring Lakenham lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.
Subsequent to unsuccessful discussions with the freeholder of her first floor flat in Lakenham, Alicia started the lease extension process as the 80 year threshold was rapidly approaching. The lease extension completed in June 2009. The freeholder’s fees were kept to an absolute minimum.
Mr and Mrs. D Khan bought a studio apartment in Lakenham in June 2011. The question was if we could shed any light on how much (approximately) price would likely be to extend the lease by an additional years. Identical flats in Lakenham with 100 year plus lease were valued about £257,800. The mid-range ground rent payable was £65 invoiced yearly. The lease expired on 14 February 2091. Given that there were 65 years unexpired we approximated the premium to the landlord for the lease extension to be within £18,100 and £20,800 plus professional charges.
Dr K James owned a newly refurbished flat in Lakenham in November 2005. We are asked if we could shed any light on how much (approximately) price could be for a ninety year extension to my lease. Identical premises in Lakenham with 100 year plus lease were worth £191,400. The mid-range amount of ground rent was £55 collected per annum. The lease came to a finish on 7 November 2080. Taking into account 54 years left we estimated the premium to the freeholder to extend the lease to be between £34,200 and £39,600 exclusive of professional charges.