Top reasons for South East London lease extension

Why you should start your South East London lease extension today:

Increase your lease and increase your South East London property value

On the balance of probabilities if you own a flat in South East London you actually own a long leasehold interest over your property

South East London property with a lease extension is almost the same value as a freehold

It is generally accepted that a residential leasehold with in excess of one hundred years remaining is worth approximately the same as a freehold. Where an further ninety years added to any lease with more than 35 years remaining, the property will be equivalent in value to a freehold for many years ahead.

Banks and Building Societies will not lend with a short lease

Banks and building societies do not like short residential leases. You are likely to encounter difficulties where 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 mortgage companies have varying requirements but on the whole they are looking for a minimum remaining lease term of 65 years.

Why use us for your lease extension in South East London?

The conveyancers that we work with procure South East London 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.

South East London Lease Extension Case Summaries:

Sian, South East London, London,

In the wake of 9 months of protracted discussions with the freeholder of her studio flat in South East London, Sian started the lease extension process just as her lease was nearing the crucial 80-year deadline. The lease extension was concluded in July 2013. The landlord’s charges were negotiated to about 700 pounds.

South East London case:

Mr and Mrs. T Girard took over the lease of a ground floor flat in South East London in August 1999. We are asked if we could approximate the price would be for a ninety year lease extension. Comparative flats in South East London with an extended lease were in the region of £173,800. The mid-range amount of ground rent was £60 invoiced per annum. The lease terminated on 11 March 2081. Considering the 55 years left we approximated the premium to the landlord for the lease extension to be within £31,400 and £36,200 exclusive of legals.