The only way is down when it comes to Stamford Bridge lease terms. Stamford Bridge leaseholds that have a lease term shorter than eighty years will drop in market price even faster, and the cost of extending your lease will go up.
It is generally considered that a property with more than 100 years unexpired lease term is worth approximately the equivalent as a freehold. Where an additional 90 years added to any lease with more than 45 years unexpired, the property will be equivalent in value to a freehold for decades to come.
| Lender | Requirement |
|---|---|
| Chelsea Building Society | |
| Coventry Building Society | |
| Leeds Building Society | |
| The Mortgage Works | |
| Yorkshire Building Society |
Regardless of whether you are a tenant or a landlord in Stamford Bridge,the lease extension solicitors that we work with will always be willing to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Stamford Bridge valuers.
In 2014 Mason, came very close to the 80-year threshold with the lease on his first floor apartment in Stamford Bridge. In buying his home two decades ago, the lease term was of minimal bearing. Luckily, he became aware that he needed to take action soon on a lease extension. Mason was able to extend his lease at the eleventh hour in July. Mason and the landlord who owned the flat above subsequently agreed on an amount of £6,000 . If the lease had gone lower than 80 years, the figure would have gone up by a minimum £1,025.
Last month we were contacted by Mr and Mrs. J Martínez , who owned a first floor apartment in Stamford Bridge in January 2006. We are asked if we could estimate the price would likely be for a ninety year extension to my lease. Comparative homes in Stamford Bridge with 100 year plus lease were valued about £218,000. The average ground rent payable was £45 invoiced annually. The lease terminated on 12 August 2089. Considering the 63 years as a residual term we calculated the compensation to the freeholder for the lease extension to be between £17,100 and £19,800 exclusive of professional charges.
Mr George Sánchez acquired a one bedroom apartment in Stamford Bridge in January 2004. The question was if we could approximate the premium could be for a 90 year lease extension. Similar properties in Stamford Bridge with a long lease were worth £265,000. The average ground rent payable was £50 billed annually. The lease lapsed in 2099. Given that there were 73 years left we approximated the compensation to the landlord for the lease extension to be within £9,500 and £11,000 plus costs.