Main reasons to commence your Malden Rushett lease extension

Why you should commence your Malden Rushett lease extension today:

A Malden Rushett leasehold property depreciates with the years remaining on the lease.

Chances are that where you own a flat in Malden Rushett you actually own a long leasehold interest over your property

An extended lease is almost the same value as a freehold

Leasehold premises in Malden Rushett with in excess of one hundred years outstanding on the lease are often regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such situations there is often little to be gained by buying the freehold unless savings on ground rent and service charges justify it.

Banks and Building Societies will not finance a property on a short lease

Whether or not the lease is be regarded as a short lease depends on the specific mortgage company, yet banks and building societies start to become jittery at around 75 years. This will cause difficulties once you wish to dispose of or refinance your flat as it will be practically unmortgageable. You might have no immediate plan to sell but when you do your buyer will have to wait 2 years before they can start the legal procedures for a lease extension.

Why use us for your lease extension in Malden Rushett?

Regardless of whether you are a tenant or a landlord in Malden Rushett,the lease extension experts that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Malden Rushett valuers.

Malden Rushett Lease Extension Case Summaries:

Poppy, Malden Rushett, South West London,

After unsuccessful negotiations with the landlord of her first floor apartment in Malden Rushett, Poppy started the lease extension process just as the lease was approaching the all-important eighty-year deadline. The lease extension was concluded in June 2010. The landlord’s costs were negotiated to approximately 550 GBP.

Malden Rushett case:

In 2010 we were called by Mr and Mrs. C Taylor who, having moved into a one bedroom flat in Malden Rushett in January 2007. We are asked if we could estimate the price would be for a 90 year extension to my lease. Identical properties in Malden Rushett with a long lease were in the region of £267,600. The average ground rent payable was £65 invoiced quarterly. The lease finished on 5 August 2092. Given that there were 67 years left we approximated the premium to the freeholder for the lease extension to be between £14,300 and £16,400 plus expenses.