Top reasons for Moor Park lease extension

Why you should start your Moor Park lease extension today:

Increase your lease and increase your Moor Park property value

The only way is down when it comes to Moor Park lease terms. Moor Park properties that have a residual term less than than eighty years will drop in market price at a rapid rate, and the cost to extend your lease will rise.

Moor Park property with a lease extension is almost the same value as a freehold

It is conventional wisdom that a residential leasehold with more than one hundred years remaining is worth approximately the same as a freehold. Where an additional ninety years added to all but the shortest lease, the premises will be equivalent in value to a freehold for many years in the future.

Banks and Building Societies may not finance a property with a short lease

Banks and building societies differ in their lending criteria. Some set the bar at seventy five years outstanding on the lease; others may be content with anything over seventy years. With less than sixty years, it may be challenging to obtain a mortgage in the first place.

What makes us experts in Moor Park lease extensions?

Lease extensions in Moor Park can be a difficult process. We recommend you obtain guidance from a conveyancer and valuer 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 a wealth of experience procuring Moor Park lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Moor Park Lease Extension Case Studies:

Isabelle, Moor Park, West London,

Trailing lengthy discussions with the landlord of her two bedroom flat in Moor Park, Isabelle started the lease extension process as the 80 year threshold was fast coming. The lease extension was concluded in September 2005. The landlord’s costs were restricted to slightly above 450 GBP.

Moor Park case:

Mr and Mrs. V Scott bought a studio flat in Moor Park in August 2006. We are asked if we could shed any light on how much (approximately) price would likely be for a ninety year extension to my lease. Comparable homes in Moor Park with 100 year plus lease were worth £265,000. The mid-range amount of ground rent was £50 invoiced every twelve months. The lease terminated in 2099. Taking into account 73 years unexpired we estimated the compensation to the landlord for the lease extension to be within £9,500 and £11,000 plus fees.