Why you should start your Beacontree Heath lease extension

Why you should start your Beacontree Heath lease extension today:

A Beacontree Heath leasehold property depreciates with the years remaining on the lease.

Chances are that where you own a flat in Beacontree Heath you actually own a long leasehold interest over your property

Beacontree Heath property with a lease extension has roughly the same value as a freehold

Leasehold properties in Beacontree Heath with more than one hundred years remaining on the lease are often referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such situations there is often little to be gained by buying the freehold unless savings on ground rent and maintenance charges warrant it.

Banks and Building Societies may not grant a mortgage with a short lease

Get in touch with one of our Beacontree Heath lease extension solicitors or enfranchisement solicitors

Using our service gives you better control over the value of your Beacontree Heath leasehold, as your property will be more valuable and saleable in terms of lease length should you want 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.

Beacontree Heath Lease Extension Case Summaries:

Jasmine, Beacontree Heath, London,

In the wake of 6 months of lengthy discussions with the freeholder of her first floor flat in Beacontree Heath, Jasmine started the lease extension process just as the lease was approaching the crucial 80-year deadline. The transaction was concluded in July 2009. The landlord’s fees were negotiated to below 500 pounds.

Beacontree Heath case:

Mrs O Cook owned a studio apartment in Beacontree Heath in February 2008. We are asked if we could shed any light on how much (roughly) price could be for a 90 year lease extension. Comparable flats in Beacontree Heath with a long lease were in the region of £295,000. The average ground rent payable was £50 collected yearly. The lease came to a finish on 10 May 2101. Given that there were 75 years as a residual term we estimated the premium to the landlord for the lease extension to be between £8,600 and £9,800 plus professional charges.