Stop! Your Lease Extension in West London Could Be FREE

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Many leaseholders in West London 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 West London 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.

Why you should commence your West London lease extension

Main reasons to start your West London lease extension today:

A West London leasehold property depreciates with the years remaining on the lease.

Chances are that if you own a flat in West London you actually own a long leasehold interest over your property

West London property with a lease extension has roughly the same value as a freehold

Leasehold premises in West London with more than one hundred years left on the lease are sometimes regarded as a ‘virtual freehold’. This is where the lease is worth the same as a freehold interest in your home. In such circumstances there is often little to be gained by purchasing the reversionary interest unless savings on ground rent and maintenance charges merit it.

Lending institutions may not issue a mortgage with a short lease

Banks and building societies differ in their lending criteria. Some draw the line at seventy five years outstanding on the lease; others may be content with anything in excess seventy years. With less than 60 years, it may be impossible to get a mortgage in the first place.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Chelsea Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
Halifax Minimum 70 years from the date of the mortgage.
Leeds Building Society 85 years remaining from the start of the mortgage.
Royal Bank of Scotland Mortgage term plus 30 years.

What makes us experts in West London lease extensions?

Irrespective of whether you are a tenant or a landlord in West London,the lease extension experts that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with West London valuers.

West London Lease Extension Example Cases:

Courtney, West London, London,

Subsequent to lengthy correspondence with the freeholder of her first floor apartment in West London, Courtney initiated the lease extension process just as her lease was approaching the critical eighty-year mark. The transaction completed in May 2007. The landlord’s charges were kept to an absolute minimum.

West London case:

Mr and Mrs. J Fournier completed a ground floor apartment in West London in March 1999. We are asked if we could estimate the price would be to extend the lease by 90 years. Comparable residencies in West London with 100 year plus lease were worth £275,000. The mid-range ground rent payable was £55 billed monthly. The lease concluded on 8 September 2102. Considering the 76 years outstanding we estimated the premium to the freeholder to extend the lease to be within £9,500 and £11,000 not including fees.

Decision in Hackney

An example of a Lease Extension matter before the tribunal for a West London flat is 137 & 139 Haberdasher Street in December 2013. The Tribunal determines in accordance with section 48 and Schedule 13 of the Leasehold Reform, Housing and Urban Development Act 1993 that the premium for the extended lease for each Property should be £12,350.00. This case was in relation to 2 flats. The unexpired term was 72.39 years.