Main reasons to commence your Selhurst lease extension

Why you should commence your Selhurst lease extension today:

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

Chances are that where you own a flat in Selhurst you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a residential leasehold with more than 100 years remaining is worth roughly the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, the property will be equivalent in value to a freehold for many years ahead.

Banks and Building Societies may not loan monies with a short lease

Nearly all mortgage lenders insist on a lengthy amount of time remaining on any leasehold property before they will contemplate it as adequate security. Regardless of whether you require a mortgage, you should be conscious that it is likely that someone wishing to buy your property in the future might well do, so where they can't obtain a mortgage, then the value of the property will likely be adversely impacted. Since 2008 most banks and building societies have increased the required minimum lease length that they are prepared to grant a mortgage on

Why use us for your lease extension in Selhurst?

Irrespective of whether you are a tenant or a landlord in Selhurst,the lease extension experts that we work with will always be willing to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Selhurst valuers.

Selhurst Lease Extension Example Cases:

Jacob, Selhurst, South London,

Jacob owned a high value flat in Selhurst being sold with a lease of a few days over 59 years unexpired. Jacob informally approached his freeholder a well known local-based freehold company and enquired on a premium to extend the lease. The landlord was prepared to agree an extension on non-statutory terms taking the lease to 125 years subject to a new rent to start with set at £100 per annum and doubled every 25 years thereafter. No ground rent would be due on a lease extension were Jacob to exercise his statutory right. Jacob obtained expert legal guidance and secured satisfactory resolution informally and readily saleable.

Selhurst case:

In 2014 we were approached by Dr L Miller who, having was assigned a lease of a studio apartment in Selhurst in October 2010. The question was if we could shed any light on how much (roughly) price would be to extend the lease by a further 90 years. Identical homes in Selhurst with 100 year plus lease were worth £261,600. The mid-range ground rent payable was £60 invoiced yearly. The lease concluded on 24 January 2078. Having 52 years as a residual term we estimated the premium to the freeholder to extend the lease to be between £39,000 and £45,000 plus professional charges.