Stop! Your Lease Extension in Sutton Could Be FREE

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Many leaseholders in Sutton 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 Sutton 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 start your Sutton lease extension

Main reasons to start your Sutton lease extension today:

Increase your lease and increase your Sutton property value

Sutton leases on residential properties are gradually losing value. The shorter the remaining lease term becomes, the less it is worth – and as a result any extension of your lease gets more expensive. Legislation has been in place for sometime now which permits qualifying Sutton residential leaseholders to extend the terms of long leases. Where you are a leasehold owner in Sutton you would be well advised to investigate if your lease has between 70 and ninety years remaining. There are good reasons why a Sutton flat owner with a lease having around 80 years left should take action to ensure that a lease extension is effected without delay

Sutton property with a lease extension is almost the same value as a freehold

Leasehold residencies in Sutton with in excess of one hundred years outstanding on the lease are often regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such situations there is often little to be gained by purchasing the freehold unless savings on ground rent and maintenance charges merit it.

Lending institutions may decide not to lend with a short lease

Lending institutions are less likely to give a mortgage on a residential flat in Sutton with a short lease. Some lenders simply refuse to lend on leases with below 75 years left.

Lender Requirement
Bank of Scotland
Birmingham Midshires
Leeds Building Society
Skipton Building Society
The Mortgage Works

Why use us for your lease extension in Sutton?

Regardless of whether you are a tenant or a landlord in Sutton,the lease extension lawyers that we work with will always be willing to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Sutton valuers.

Sutton Lease Extension Case Studies:

Niamh, Sutton, South London,

Subsequent to lengthy discussions with the landlord of her studio flat in Sutton, Niamh initiated the lease extension process just as the lease was nearing the all-important eighty-year mark. The transaction was concluded in May 2015. The freeholder’s fees were kept to an absolute minimum.

Sutton case:

Mr Sebastian Petit acquired a studio flat in Sutton in July 2002. We are asked if we could shed any light on how much (approximately) premium could be to extend the lease by a further 90 years. Identical residencies in Sutton with an extended lease were in the region of £218,000. The average amount of ground rent was £45 invoiced monthly. The lease ran out in 2089. Having 63 years remaining we estimated the compensation to the landlord to extend the lease to be within £17,100 and £19,800 plus expenses.

Decision in Sutton

An example of a Freehold Enfranchisement matter before the tribunal for a Sutton flat is Buchanan Court 39 Vernon Road in April 2010. the Tribunal assessed that the premium payable for the freehold of the block should be £44,000. This case related to 2 flats. The unexpired residue of the current lease was 66.67 years.