Top reasons for Neasden lease extension

Main reasons to start your Neasden lease extension today:

Increase your lease and increase your Neasden property value

Neasden leases on residential properties are gradually losing value. The shorter the remaining lease term becomes, the less it is worth – and as a result any extension of the lease becomes more expensive. The majority of owners of residential leasehold property in Neasden enjoy rights under legislation to extend the terms of their leases. If you are a leasehold owner in Neasden you really ought to investigate if your lease has between 70 and 90 years remaining. In particular once the remaining lease term slips under eighty years, the compensation to the landlord for any lease extension increases dramatically as an element of the premium you will incur is what is known as a marriage value

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

It is generally considered that a property with more than one hundred years remaining is worth roughly the same as a freehold. Where an additional 90 years added to any lease with more than 30 years left, the premises will be worth the same as a freehold for many years in the future.

Lending institutions will not grant a mortgage with a short lease

What makes us experts in Neasden lease extensions?

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

Neasden Lease Extension Example Cases:

Eleanor, Neasden, North West London,

Trailing unsuccessful correspondence with the freeholder of her leasehold flat in Neasden, Eleanor initiated the lease extension process as the 80 year deadline was fast advancing. The lease extension was concluded in November 2007. The landlord’s costs were kept to an absolute minimum.

Neasden case:

Last Spring we were approach by Dr Bethany Scott , who owned a basement flat in Neasden in October 2011. The dilemma was if we could estimate the compensation to the landlord could be for a ninety year extension to my lease. Identical residencies in Neasden with an extended lease were worth £193,400. The average ground rent payable was £65 collected quarterly. The lease finished on 21 April 2085. Considering the 59 years outstanding we approximated the premium to the landlord to extend the lease to be between £21,900 and £25,200 not including costs.