Top reasons for Chessington lease extension

Top reasons for lease extension now:

Increase your lease and increase your Chessington property value

The only way is down when it comes to Chessington lease terms. Chessington leaseholds that have a residual term shorter than eighty years will reduce in market price even faster, and the cost to extend your lease will go up.

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

It is conventional wisdom that a property with in excess of 100 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 premises will be worth the same as a freehold for many years in the future.

Lenders may decide not to lend with a short lease

What makes us experts in Chessington lease extensions?

The conveyancing solicitors that we work with undertake Chessington lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancing solicitor we work with provide it.

Chessington Lease Extension Example Cases:

Isabella, Chessington, South West London,

Following unsuccessful correspondence with the freeholder of her ground floor apartment in Chessington, Isabella commenced the lease extension process just as her lease was coming close to the all-important 80-year deadline. The transaction was finalised in April 2007. The landlord’s charges were kept to an absolute minimum.

Chessington case:

Ms A Anderson moved into a studio flat in Chessington in June 1998. We are asked if we could shed any light on how much (roughly) price could be to extend the lease by a further 90 years. Comparable flats in Chessington with a long lease were in the region of £210,600. The average amount of ground rent was £45 collected quarterly. The lease elapsed on 4 January 2088. Considering the 62 years remaining we calculated the premium to the landlord to extend the lease to be within £18,100 and £20,800 exclusive of legals.