Main reasons to start your Linton lease extension

Top reasons for lease extension now:

Increase your lease and increase your Linton property value

The only way is down when it comes to Linton lease terms. Linton leaseholds that have a remaining term less than than eighty years will de-escalate in value even faster, and the cost of extending your lease will rise.

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

It is generally accepted that a residential leasehold with in excess of one hundred years unexpired lease term is worth roughly the equivalent 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.

Banks and Building Societies will not grant a mortgage on a short lease

Banks and building societies are making their criteria more stringent and a meaningful number now expect flats to have at least sixty if not seventy years remaining once the mortgage has expired. Considering a number of flats in Linton were created in the fifties, sixties and seventies this means many now need to be extended if they if they are to be mortgageable.

What makes us experts in Linton lease extensions?

Engaging our service gives you better control over the value of your Linton leasehold, as your property will be more valuable and saleable in respect of lease length should you want to sell. The lawyers that we work with have a wealth of experience of handling many hundreds of lease extensions or freehold purchase transactions.

Linton Lease Extension Example Cases:

Katie, Linton, Leeds,

Trailing lengthy correspondence with the landlord of her first floor apartment in Linton, Katie started the lease extension process as the 80 year deadline was swiftly approaching. The transaction was finalised in October 2013. The freeholder’s costs were kept to an absolute minimum.

Linton case:

In 2012 we were e-mailed by Mr and Mrs. R Peterson who, having was assigned a lease of a one bedroom apartment in Linton in March 2004. The question was if we could approximate the compensation to the landlord could be to extend the lease by a further 90 years. Comparative residencies in Linton with a long lease were worth £250,400. The mid-range ground rent payable was £65 billed quarterly. The lease end date was in 2090. Taking into account 64 years left we estimated the premium to the freeholder to extend the lease to be between £19,000 and £22,000 not including professional charges.

Linton case:

In 2011 we were phoned by Dr Natasha Torres who, having owned a purpose-built flat in Linton in October 2000. We are asked if we could estimate the premium would likely be to extend the lease by ninety years. Identical properties in Linton with a long lease were in the region of £189,000. The mid-range amount of ground rent was £55 billed quarterly. The lease finished in 2079. Having 53 years as a residual term we approximated the compensation to the landlord for the lease extension to be within £28,500 and £33,000 not including professional charges.