Stop! Your Lease Extension in Notting Hill Could Be FREE

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Many leaseholders in Notting Hill are unaware that their original lawyer had a duty to warn them about future mortgageability and saleability issues. Before you pay thousands to your freeholder, let us audit your purchase history. You might have a claim that pays for your lease extension in full

If you are facing a significant premium because your lease in Notting Hill has dropped toward the 80-year mark, your previous lawyer may be at fault. Our panel of experts specialise in recovering lease extension costs from negligent firms who failed to protect your investment.

Top reasons for Notting Hill lease extension

Main reasons to commence your Notting Hill lease extension today:

A Notting Hill leasehold property depreciates with the years remaining on the lease.

Notting Hill residential property owned on a long lease is a depreciating asset as the leaseholder only owns the property for a period of years.

An extended lease is almost the same value as a freehold

It is generally considered that a residential leasehold with in excess of 100 years unexpired lease term is worth approximately the same as a freehold. Where an additional 90 years added to any lease with more than 35 years unexpired, the property will be worth the same as a freehold for many years in the future.

Mortgage lenders may not lend on a short lease

Most mortgage lenders have constrained their lending criteria in recent years and borrowers are finding it increasingly difficult to raise funding or re-mortgage against flats with shorter lease terms, particularly under 75 years as they are deemed to be inadequate security.

Lender Requirement
Coventry Building Society A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
Godiva Mortgages A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
Royal Bank of Scotland Mortgage term plus 30 years.
Yorkshire Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

What makes us experts in Notting Hill lease extensions?

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

Notting Hill Lease Extension Example Cases:

Mia, Notting Hill, West London,

Trailing unsuccessful negotiations with the landlord of her ground floor apartment in Notting Hill, Mia commenced the lease extension process as the eighty year mark was rapidly advancing. The transaction was concluded in April 2013. The landlord’s costs were restricted to slightly above 650 GBP.

Notting Hill case:

Last May we were contacted by Mr and Mrs. G Baker , who bought a newly refurbished apartment in Notting Hill in November 2001. The question was if we could shed any light on how much (approximately) compensation to the landlord would be to prolong the lease by a further 90 years. Identical properties in Notting Hill with a long lease were worth £191,000. The average ground rent payable was £65 invoiced quarterly. The lease terminated on 10 July 2084. Having 58 years remaining we calculated the premium to the freeholder to extend the lease to be between £23,800 and £27,400 plus professional charges.

Decision in Kensington and Chelsea

An example of a Lease Extension case for a Notting Hill flat is 2 Grove House 95 Addison Road in October 2013. the Tribunal decided that the premium to bepaid for a new lease is £50,050. This case was in relation to 1 flat. The unexpired term as at the valuation date was 68.4 years.