Top reasons for Walham Green lease extension

Top reasons for lease extension now:

Increase your lease and increase your Walham Green property value

The only way is down when it comes to Walham Green lease terms. Walham Green leaseholds that have a remaining term shorter than eighty years will drop in value even faster, and the cost to extend your lease will rise.

Walham Green property with a lease extension has roughly the same value as a freehold

It is conventional wisdom that a property with in excess of one hundred years unexpired lease term is worth roughly the same as a freehold. Where an additional ninety years added to any lease with more than 45 years unexpired, the premises will be equivalent in value to a freehold for many years ahead.

Lenders will not finance a property with a short lease

Banks and building societies do not lend on short residential leases. You most probably experience problems if you want to sell your flat in Walham Green if the unexpired term of your lease is below the criteria set by the majority of lenders. Different lenders have different requirements but in the main they are looking for an unexpired term of at least 65 years.

Get in touch with one of our Walham Green lease extension solicitors or enfranchisement solicitors

Lease extensions in Walham Green can be a difficult process. We recommend you get professional help from a lawyer and surveyor well versed in the legislation and lease extension process.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have a wealth of experience procuring Walham Green lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Walham Green Lease Extension Example Cases:

Isabelle, Walham Green, West London,

Trailing protracted discussions with the landlord of her basement apartment in Walham Green, Isabelle started the lease extension process just as the lease was nearing the crucial eighty-year threshold. The legal work was finalised in January 2015. The freeholder’s costs were restricted to about 450 pounds.

Walham Green case:

Mr and Mrs. K Roux bought a purpose-built flat in Walham Green in October 2012. We are asked if we could estimate the premium would be for a ninety year extension to my lease. Similar residencies in Walham Green with a long lease were worth £280,000. The average ground rent payable was £55 collected every twelve months. The lease terminated in 2104. Having 78 years unexpired we calculated the compensation to the freeholder for the lease extension to be within £13,300 and £15,400 not including expenses.

Walham Green case:

Mr and Mrs. P Robinson completed a one bedroom flat in Walham Green in September 2008. The dilemma was if we could approximate the premium could be to prolong the lease by an additional years. Comparative residencies in Walham Green with a long lease were in the region of £186,000. The average ground rent payable was £65 billed quarterly. The lease expired on 26 April 2084. Considering the 58 years left we calculated the compensation to the landlord for the lease extension to be between £23,800 and £27,400 not including fees.