Why you should commence your Thames View lease extension

Top reasons for lease extension now:

Increase your lease and increase your Thames View property value

As the the remaining lease term of a Thames View residential lease diminished so does its value and therefore the value of your property. If the lease has, in excess of one hundred years to run then this decrease may be fractional nevertheless there will become a stage when a lease has under than 80 years remaining as part of the premium you will incur is what is termed as a marriage value. This could be significant. It is the main reason why you should consider extending sooner as opposed to later. The majority of flat owners in Thames View will qualify for this right; however a conveyancer can confirm if you are eligible to extend your lease. In certain situations you may not qualify, the most common reason being that you have not been the owner of the property for two years.

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

It is conventional wisdom that a residential leasehold with more than one hundred years remaining is worth roughly the same as a freehold. Where an further ninety years added to all but the shortest lease, the residence will be equivalent in value to a freehold for decades to come.

Mortgage lenders may not finance a property with a short lease

Lending institutions have set criteria when loaning monies charged on leasehold property. Many will simply not lend at all once the residual lease term drops below a specified unexpired lease term. Many Mortgage lenders will not consider property with an unexpired term of less than seventy years suitable security. As well as this being important when selling, it is also relevant if you are seeking to refinance your Thames View property.

Why use us for your lease extension in Thames View?

Engaging our service will provide you better control over the value of your Thames View leasehold, as your property will be more valuable and marketable in respect of lease length should you decide to sell. The lawyers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Thames View Lease Extension Case Summaries:

Olivia, Thames View, London,

Subsequent to unsuccessful correspondence with the freeholder of her purpose-built flat in Thames View, Olivia initiated the lease extension process just as the lease was coming close to the crucial eighty-year threshold. The legal work completed in April 2006. The freeholder’s charges were kept to an absolute minimum.

Thames View case:

Mr and Mrs. H Bertrand took over the lease of a purpose-built apartment in Thames View in October 1999. We are asked if we could shed any light on how much (roughly) price would be for a 90 year extension to my lease. Identical premises in Thames View with 100 year plus lease were valued around £257,800. The mid-range ground rent payable was £65 invoiced monthly. The lease ran out on 18 June 2091. Given that there were 65 years unexpired we estimated the compensation to the landlord to extend the lease to be between £18,100 and £20,800 plus fees.