Main reasons to commence your Malden Rushett lease extension

Main reasons to start your Malden Rushett lease extension today:

Increase your lease and increase your Malden Rushett property value

As the length of the unexpired term of a Malden Rushett domestic lease diminished so does its value and therefore the value of your property. If the residual term has, over 99 years to run then this decrease may be negligible that being said there will become a stage when a lease has under than 80 years remaining as part of the premium you will incur is what is known as a marriage value. This could be significant. It is the primary reason why you should consider extending without delay. The majority of flat owners in Malden Rushett will meet the qualifying criteria; nevertheless a lawyer will be able to confirm if you qualify for a lease extension. In limited situations you may not qualify, the most common reason being that you have not been the owner of the property for two years.

Malden Rushett property with a lease extension is almost the same value as a freehold

It is generally considered that a residential leasehold with more than 100 years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to any lease with more than 35 years remaining, the property will be equivalent in value to a freehold for decades to come.

Lenders will not finance a property with a short lease

Banks and building societies do not like short residential leases. You most probably experience difficulties if you want to sell your flat in Malden Rushett if the remaining term of your lease is less than the criteria set by the majority of banks and building societies. Different lenders have varying requirements but generally they are looking for a minimum remaining lease term of 65 years.

What makes us experts in Malden Rushett lease extensions?

Lease extensions in Malden Rushett can be a difficult process. We recommend you secure professional help from a conveyancer and surveyor well versed in the legislation and lease extension process.

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 in-depth market knowledge procuring Malden Rushett lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Malden Rushett Lease Extension Example Cases:

Natalie, Malden Rushett, South West London,

Following protracted negotiations with the landlord of her garden flat in Malden Rushett, Natalie initiated the lease extension process as the 80 year threshold was swiftly nearing. The transaction was finalised in March 2014. The freeholder’s costs were kept to an absolute minimum.

Malden Rushett case:

In 2010 we were called by Mr and Mrs. P Ali who, having purchased a first floor apartment in Malden Rushett in June 2011. The dilemma was if we could estimate the premium would be to prolong the lease by ninety years. Comparative flats in Malden Rushett with an extended lease were in the region of £191,400. The average ground rent payable was £55 invoiced monthly. The lease finished in 2080. Given that there were 54 years outstanding we estimated the premium to the landlord to extend the lease to be within £34,200 and £39,600 not including expenses.