Top reasons for South East London lease extension

Main reasons to commence your South East London lease extension today:

A South East London lease depreciates with the years remaining on the lease.

Chances are that if you own a flat in South East London you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is generally considered that a residential leasehold with more than 100 years remaining is worth approximately the equivalent as a freehold. Where an further ninety years added to any lease with more than 30 years remaining, the residence will be worth the same as a freehold for decades to come.

Lending institutions will not issue a mortgage on a short lease

Lenders do not like short residential leases. You most probably encounter problems if you need to sell your flat in South East London if the remaining term of your lease is below the criteria set by most banks and building societies. Different lenders have varying requirements but on the whole theyrequire an unexpired term of at least 65 years.

What makes us experts in South East London lease extensions?

Engaging our service will provide you enhanced control over the value of your South East London leasehold, as your property will be more valuable and saleable in terms of lease length should you wish to sell. The conveyancers that we work with have a wealth of experience of handling many hundreds of lease extensions or freehold purchase transactions.

South East London Lease Extension Case Studies:

Georgia, South East London, London,

Following lengthy negotiations with the freeholder of her purpose-built flat in South East London, Georgia commenced the lease extension process just as the lease was approaching the all-important 80-year deadline. The lease extension was concluded in March 2015. The freeholder’s fees were kept to an absolute minimum.

South East London case:

Mr E Green bought a ground floor flat in South East London in July 2011. The question was if we could estimate the premium could be to prolong the lease by a further 90 years. Similar flats in South East London with 100 year plus lease were valued about £254,200. The mid-range amount of ground rent was £60 invoiced per annum. The lease elapsed on 12 March 2077. Given that there were 51 years outstanding we calculated the premium to the freeholder to extend the lease to be within £43,700 and £50,600 plus legals.