The market value of Stamford Bridge 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 escalate substantially once the unexpired lease term is below than eighty years
Leasehold premises in Stamford Bridge with in excess of one hundred years outstanding on the lease are sometimes referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your premises. In such situations there is often little to be gained by buying the freehold unless savings on ground rent and maintenance charges justify it.
| Lender | Requirement |
|---|---|
| Barclays plc | |
| Barnsley Building Society | |
| Halifax | |
| Skipton Building Society | |
| The Mortgage Works |
Using our service will provide you enhanced control over the value of your Stamford Bridge leasehold, as your property will be more valuable and saleable in respect of lease length should you wish to sell. The lawyers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.
After unsuccessful negotiations with the landlord of her first floor flat in Stamford Bridge, Natasha initiated the lease extension process just as her lease was nearing the all-important 80-year threshold. The legal work completed in April 2012. The freeholder’s fees were kept to an absolute minimum.
In 2013 we were contacted by Mr James García who, having was assigned a lease of a basement flat in Stamford Bridge in November 2005. The dilemma was if we could estimate the compensation to the landlord would be to prolong the lease by an additional years. Comparative residencies in Stamford Bridge with an extended lease were worth £237,600. The mid-range amount of ground rent was £45 billed per annum. The lease came to a finish in 2093. Having 67 years as a residual term we estimated the premium to the landlord for the lease extension to be between £11,400 and £13,200 plus legals.
Ms Laura Laurent took over the lease of a garden flat in Stamford Bridge in September 2010. We are asked if we could approximate the price would be to prolong the lease by an additional years. Identical flats in Stamford Bridge with an extended lease were valued about £280,000. The average ground rent payable was £55 collected per annum. The lease ended in 2103. Having 77 years left we estimated the compensation to the landlord to extend the lease to be within £13,300 and £15,400 not including expenses.