Why you should start your Neasden lease extension

Main reasons to commence your Neasden lease extension today:

A Neasden lease depreciates with the years remaining on the lease.

On the balance of probabilities where you own a flat in Neasden you actually own a long leasehold interest over your property

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

It is conventional wisdom that a residential leasehold with in excess of one hundred years remaining is worth approximately the same as a freehold. Where an further ninety years added to all but the shortest lease, the property will be equivalent in value to a freehold for decades to come.

Lenders will not loan monies on a short lease

Whether or not the lease is be regarded as a short lease varies by mortgage company, yet mortgage lenders start to get jittery at around 75 years. This may be problematic as and when you come to sell or remortgage your flat as it will be practically unmortgageable. You may have no immediate intention to sell but when you do your buyer must hold off for two years before they can exercise the right to a a lease extension.

What makes us experts in Neasden lease extensions?

Lease extensions in Neasden can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in lease extensions.

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 Neasden lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Neasden Lease Extension Case Studies:

Kelsey, Neasden, North West London,

Subsequent to unsuccessful correspondence with the landlord of her one bedroom flat in Neasden, Kelsey commenced the lease extension process as the 80 year deadline was swiftly advancing. The legal work completed in May 2005. The freeholder’s costs were restricted to less than 500 GBP.

Neasden case:

Last July we were phoned by Mrs Natalie Anderson , who moved into a purpose-built apartment in Neasden in August 1996. We are asked if we could estimate the price could be to prolong the lease by ninety years. Similar homes in Neasden with an extended lease were valued about £218,000. The mid-range amount of ground rent was £45 invoiced yearly. The lease terminated in 2089. Having 63 years unexpired we approximated the premium to the landlord to extend the lease to be within £17,100 and £19,800 exclusive of fees.