Top reasons for Walton On Thames lease extension

Why you should start your Walton On Thames lease extension today:

A Walton On Thames lease depreciates with the years remaining on the lease.

The rule of thumb is, all other factors being equal, the shorter the lease the more costly the premium. Qualifying leaseholders in Walton On Thames have the right to extend the lease for an additional ninety years in accordance with statute. Do give careful consideration before delaying your Walton On Thames lease extension. Postponing that expense today simply increases the amount you will ultimately be required to pay to extend the lease.

Walton On Thames property with a lease extension has roughly the same value as a freehold

It is generally considered that a residential leasehold with more than 100 years remaining is worth approximately the equivalent as a freehold. Where an additional 90 years added to any lease with more than 35 years remaining, the premises will be worth the same as a freehold for many years in the future.

Lending institutions will not grant a mortgage with a short lease

Banks and building societies will not lend on short residential leases. You most probably experience difficulties if you want to sell your flat in Walton On Thames if the unexpired lease term is under the criteria set by the majority of banks and building societies. Different mortgage companies have different criteria but generally theyrequire an unexpired term of at least seventy years.

What makes us experts in Walton On Thames lease extensions?

Using our service will provide you enhanced control over the value of your Walton On Thames leasehold, as your property will be more valuable and marketable in relation to the lease length should you decide to sell. The conveyancing solicitors that we work with have a in-depth market knowledge handling many hundreds of lease extensions or freehold purchase transactions.

Walton On Thames Lease Extension Example Cases:

Isabelle, Walton On Thames, Surrey,

Trailing unsuccessful negotiations with the freeholder of her basement apartment in Walton On Thames, Isabelle commenced the lease extension process as the eighty year mark was rapidly nearing. The transaction was finalised in August 2005. The landlord’s costs were negotiated to approximately 500 pounds.

Walton On Thames case:

In 2011 we were phoned by Mr Archie Gunderson who, having completed a newly refurbished flat in Walton On Thames in October 1998. We are asked if we could estimate the premium would be to extend the lease by 90 years. Comparative properties in Walton On Thames with 100 year plus lease were valued about £264,000. The mid-range ground rent payable was £60 invoiced monthly. The lease expiry date was in 2079. Having 53 years unexpired we calculated the premium to the landlord to extend the lease to be within £37,100 and £42,800 not including costs.