Stop! Your Lease Extension in Raynes Park Could Be FREE

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Many leaseholders in Raynes Park 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 Raynes Park 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.

Main reasons to commence your Raynes Park lease extension

Top reasons for lease extension now:

A Raynes Park lease depreciates with the years remaining on the lease.

The value of Raynes Park leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of extending the lease can increase substantially once the remaining term is below than 80 years

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

It is conventional wisdom that a residential leasehold with in excess of 100 years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to all but the shortest lease, the premises will be worth the same as a freehold for decades to come.

Banks and Building Societies will not issue a mortgage on a short lease

Lending institutions are less likely to grant a loan offer on a domestic property in Raynes Park with a short lease. Many lenders simply refuse a mortgage on leases with under 75 years remaining.

Lender Requirement
Bank of Scotland
National Westminster Bank
Nationwide Building Society
Santander
Virgin

Why use us for your lease extension in Raynes Park?

The conveyancers that we work with procure Raynes Park lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The lawyer we work with provide it.

Raynes Park Lease Extension Case Summaries:

Abigail, Raynes Park, South West London,

Off the back of protracted discussions with the freeholder of her first floor apartment in Raynes Park, Abigail commenced the lease extension process just as the lease was approaching the critical 80-year mark. The legal work was concluded in July 2007. The freeholder’s charges were kept to an absolute minimum.

Raynes Park case:

Dr William Wright took over the lease of a first floor flat in Raynes Park in July 1995. We are asked if we could shed any light on how much (roughly) compensation to the landlord would be to prolong the lease by ninety years. Comparable homes in Raynes Park with an extended lease were in the region of £198,800. The average ground rent payable was £55 invoiced per annum. The lease terminated in 2081. Having 55 years left we approximated the compensation to the freeholder to extend the lease to be within £33,300 and £38,400 plus professional charges.

Decision in Sutton

An example of a Lease Extension decision for a Raynes Park premises is 33 The Maisonettes Alberta Avenue in June 2014. the Tribunal decided that the premium payable for the grant of a new lease be the sum of £20,680 (Twenty Thousand six hundred and eighty pounds). This case was in relation to 1 flat. The unexpired term was 60.43 years.