Top reasons for Lower Earley lease extension

Top reasons for lease extension now:

A Lower Earley leasehold property depreciates with the years remaining on the lease.

For those whose Lower Earley property is held on a long lease, our message is clear – if no remedial action is taken, the property will eventually revert to the freeholder, leaving you empty-handed. The fewer the years remaining the lower the value of the property and the more expensive it will be to obtain a lease extension.

An extended lease has roughly the same value as a freehold

It is generally considered that a residential leasehold with over one hundred years unexpired lease term is worth roughly the equivalent as a freehold. Where an additional 90 years added to any lease with more than 45 years left, the property will be worth the same as a freehold for decades to come.

Lenders may decide not to loan monies on a short lease

Almost all banks and building societies will not lend on a lease with under 70 years unexpired - although this varies between mortgage companies. A buyer will likely encounter difficulties to obtain a mortgage and this could result in your Lower Earley property being difficult to sell or remortgage.

Why use us for your lease extension in Lower Earley?

Using our service gives you enhanced control over the value of your Lower Earley leasehold, as your property will be more valuable and saleable in terms of lease length should you decide to sell. The lawyers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Lower Earley Lease Extension Example Cases:

Felix, Lower Earley, Berkshire

Two years ago Felix, came perilously close to the eighty-year mark with the lease on his two bedroom flat in Lower Earley. Having purchased his home two decades ago, the unexpired term was of minimal interest. by good luck, he recognised he would imminently be paying an inflated amount for a lease extension. Felix arranged for a lease extension just in the nick of time in June. Felix and the freeholder via the management company eventually settled on the final figure of £5,500 . If he not met the deadline, the figure would have increased by at least £1,125.

Lower Earley case:

Last Summer we were contacted by Mr and Mrs. P Martin , who purchased a newly refurbished apartment in Lower Earley in August 2005. The question was if we could shed any light on how much (approximately) compensation to the landlord would be for a ninety year lease extension. Comparative residencies in Lower Earley with 100 year plus lease were in the region of £200,000. The average amount of ground rent was £50 invoiced every twelve months. The lease came to a finish in 2103. Having 77 years as a residual term we calculated the compensation to the freeholder for the lease extension to be within £8,600 and £9,800 exclusive of expenses.

Lower Earley case:

Mr Mason Thomas purchased a newly refurbished apartment in Lower Earley in November 1997. We are asked if we could estimate the price would be for a 90 year lease extension. Comparative residencies in Lower Earley with an extended lease were in the region of £265,200. The mid-range amount of ground rent was £65 billed every twelve months. The lease expired on 16 September 2092. Having 66 years left we estimated the compensation to the landlord for the lease extension to be between £15,200 and £17,600 exclusive of professional charges.