Top reasons for Newport Pagnell lease extension

Top reasons for lease extension now:

Increase your lease and increase your Newport Pagnell property value

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

Newport Pagnell 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 roughly the same as a freehold. Where an additional 90 years added to any lease with more than 35 years left, the premises will be equivalent in value to a freehold for many years ahead.

Mortgage lenders may not grant a mortgage on a short lease

Almost all mortgage lenders will be unwilling to lend on a lease with less than 70 years remaining - although this varies between mortgage companies. A purchaser will likely encounter difficulties to obtain a mortgage and this could result in your Newport Pagnell property becoming difficult to dispose of or to obtain finance on.

Why use us for your lease extension in Newport Pagnell?

Retaining our service will provide you enhanced control over the value of your Newport Pagnell leasehold, as your property will be more valuable and saleable in relation to the lease length should you decide to sell. The lawyers that we work with have a in-depth market knowledge handling many hundreds of lease extensions or freehold purchase transactions.

Newport Pagnell Lease Extension Example Cases:

Edward, Newport Pagnell, Buckinghamshire,

Edward was the the leasehold owner of a conversion flat in Newport Pagnell being marketed with a lease of a little over fifty eight years unexpired. Edward informally contacted his freeholder a well known London-based freehold company for a lease extension. The landlord was prepared to agree an extension on non-statutory terms taking the lease to 125 years subject to a new rent initially set at £150 per annum and doubled every twenty five years thereafter. No ground rent would be due on a lease extension were Edward to exercise his statutory right. Edward procured expert legal guidance and was able to make a more informed judgement and deal with the matter and readily saleable.

Newport Pagnell case:

Last Christmas we were e-mailed by Mr Toby Murphy , who bought a one bedroom apartment in Newport Pagnell in July 1998. The question was if we could approximate the compensation to the landlord would likely be to extend the lease by an additional years. Comparative homes in Newport Pagnell with 100 year plus lease were worth £280,000. The mid-range amount of ground rent was £55 billed annually. The lease finished in 2104. Having 78 years left we estimated the compensation to the freeholder for the lease extension to be between £13,300 and £15,400 not including fees.

Newport Pagnell case:

Last Summer we were phoned by Mr and Mrs. G Norbert , who moved into a one bedroom flat in Newport Pagnell in January 2012. The question was if we could shed any light on how much (approximately) price could be for a 90 year extension to my lease. Comparative properties in Newport Pagnell with a long lease were in the region of £191,000. The mid-range amount of ground rent was £65 invoiced annually. The lease expired on 14 August 2084. Given that there were 58 years remaining we approximated the compensation to the freeholder for the lease extension to be between £23,800 and £27,400 not including costs.