Top reasons for Weldon lease extension

Top reasons for lease extension now:

Increase your lease and increase your Weldon property value

Owning a flat usually means owning a lease of the property, which has a finite term of years. This lease will normally be granted for a fixed period of time , usually 99 or 125 years, although we have witnessed longer and shorter terms in Weldon. Inevitably, the length of lease left shortens over time. This is often ignored and only raises itself as an issue when the property has to be disposed of or refinanced. The fewer the years remaining the lower the value of the property and the more expensive it will be to extend the lease. Qualifying long lease owners in Weldon have the legal entitlement to extend the lease for an additional ninety years in accordance with legislation. Do give careful attention before putting off your Weldon lease extension. Holding off the cost now only increases the price you will eventually have to pay for a lease extension

An extended lease has roughly the same value as a freehold

It is generally considered that a property with in excess of one hundred years remaining is worth roughly the equivalent as a freehold. Where an further 90 years added to any lease with more than 45 years left, the property will be equivalent in value to a freehold for decades to come.

Lenders will not issue a mortgage with a short lease

Mortgage companies will not lend on short residential leases. You most probably encounter problems if you wish to sell your flat in Weldon if the unexpired term of your lease is below the criteria set by most lenders. Different lenders have varying requirements but on the whole they are looking for an unexpired term of at least seventy years.

Why use us for your lease extension in Weldon?

Retaining our service gives you enhanced control over the value of your Weldon leasehold, as your property will be more valuable and marketable in terms of lease length should you want to sell. The lawyers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Weldon Lease Extension Example Cases:

Kyle, Weldon, Northamptonshire,

Kyle was the the leasehold proprietor of a conversion flat in Weldon being sold with a lease of just over sixty years outstanding. Kyle on an informal basis contacted his freeholder a well known London-based freehold company for a lease extension. The landlord indicated a willingness to grant an extension taking the lease to 125 years on the basis of a new rent initially set at £100 per annum and doubled every twenty five years thereafter. No ground rent would be payable on a lease extension were Kyle to exercise his statutory right. Kyle procured expert legal guidance and was able to make a more informed decision and handle with the matter and ending up with a market value flat.

Weldon case:

Last Winter we were e-mailed by Mrs Mia François , who acquired a one bedroom flat in Weldon in February 2003. We are asked if we could approximate the price would be for a 90 year extension to my lease. Comparable homes in Weldon with an extended lease were in the region of £280,000. The average ground rent payable was £55 invoiced annually. The lease ran out on 14 July 2104. Given that there were 78 years left we calculated the compensation to the landlord for the lease extension to be within £13,300 and £15,400 exclusive of fees.

Weldon case:

Last September we were e-mailed by Dr Dexter Moreau , who moved into a purpose-built apartment in Weldon in January 1995. We are asked if we could approximate the premium would be for a ninety year lease extension. Similar residencies in Weldon with an extended lease were in the region of £183,600. The mid-range ground rent payable was £65 billed every twelve months. The lease expired on 3 November 2083. Considering the 57 years left we approximated the premium to the landlord for the lease extension to be within £28,500 and £33,000 plus fees.