Stop! Your Lease Extension in Shepherd's Bush Could Be FREE

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Many leaseholders in Shepherd's Bush 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 Shepherd's Bush 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 Shepherd's Bush lease extension

Main reasons to start your Shepherd's Bush lease extension today:

Increase your lease and increase your Shepherd's Bush property value

The value of Shepherd's Bush leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The expense of extending the lease can increase significantly once the unexpired lease term is below than 80 years

Shepherd's Bush property with a lease extension has roughly the same value as a freehold

It is generally considered that a residential leasehold with over one hundred years remaining is worth approximately the same as a freehold. Where an additional 90 years added to any lease with more than 35 years unexpired, the residence will be worth the same as a freehold for many years in the future.

Lending institutions may decide not to finance a property on a short lease

The propensity since 2008 has been for lenders to tighten lending requirements generally - this has extended to the types of security over which the mortgage is to be charged. This has meant the minimum number of years remaining under the lease required by mortgage companies has increased. Historically mortgage companies would grant a mortgage on a lease with twenty years plus the term of the loan - typically fifty year leases but those requirements are being increasingly undermined by the requirement for longer and longer leases - many use a minimum term of 75 years as a prerequisite.

Lender Requirement
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
Birmingham Midshires Minimum 70 years from the date of the mortgage.
Halifax Minimum 70 years from the date of the mortgage.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must be at least 30 years plus the term of the mortgage at the outset of the mortgage.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.

Why use us for your lease extension in Shepherd's Bush?

Engaging our service gives you better control over the value of your Shepherd's Bush leasehold, as your property will be more valuable and marketable 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.

Shepherd's Bush Lease Extension Example Cases:

Finn, Shepherd's Bush, West London

Last October Finn, came precariously near to the 80-year threshold with the lease on his leasehold flat in Shepherd's Bush. Having purchased his property two decades ago, the length of the lease was of minimal concern. Thankfully, he recognised he needed to take steps soon on a lease extension. Finn was able to extend his lease just in the nick of time last May. Finn and the landlord eventually agreed on sum of £5,000 . If the lease had gone lower than 80 years, the amount would have become more costly by at least £1,075.

Shepherd's Bush case:

Dr Dexter Morel owned a ground floor apartment in Shepherd's Bush in May 2004. The question was if we could approximate the price would be for a 90 year lease extension. Comparative properties in Shepherd's Bush with a long lease were valued around £265,200. The average ground rent payable was £65 collected per annum. The lease lapsed on 15 March 2092. Taking into account 66 years unexpired we calculated the compensation to the landlord for the lease extension to be within £15,200 and £17,600 plus expenses.

Decision in Hammersmith and Fulham

An example of a Freehold Enfranchisement case for a Shepherd's Bush property is 82 Minford Gardens in February 2009. The Tribunal determined that the enfranchisement price was £37,341 This case was in relation to 2 flats. The unexpired term was 72.92 years.