Top reasons for Haddenham lease extension

Why you should start your Haddenham lease extension today:

Increase your lease and increase your Haddenham property value

On the balance of probabilities where you own a flat in Haddenham you actually own a long leasehold interest over your property

An extended lease is almost the same value as a freehold

Leasehold properties in Haddenham with in excess of 100 years remaining on the lease are sometimes referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such circumstances there is often little upside in purchasing the reversionary interest unless savings on ground rent and estate charges merit it.

Mortgage lenders will not lend with a short lease

The definition of a short lease varies by mortgage company, yet lending institutions start to get jittery at around 75 years. This may cause difficulties when you come to market or refinance your property as it will be effectively unmortgageable. You might not have an immediate plan to sell but when you do your purchaser must wait a couple of years before they can commence the legal procedures for a lease extension.

What makes us experts in Haddenham lease extensions?

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

Haddenham Lease Extension Example Cases:

Oscar, Haddenham, Buckinghamshire,

Oscar was the the leasehold proprietor of a 2 bedroom apartment in Haddenham being sold with a lease of a little over 61 years outstanding. Oscar informally approached his freeholder being a well known Manchester-based freehold company and enquired on a premium to extend the lease. The freeholder indicated a willingness to grant an extension taking the lease to 125 years subject to a new rent to start with set at £100 per annum and doubled every twenty five years thereafter. No ground rent would be due on a lease extension were Oscar to invoke his statutory right. Oscar procured expert legal guidance and was able to make an informed decision and deal with the matter and readily saleable.

Haddenham case:

Mr and Mrs. V Young owned a basement apartment in Haddenham in May 2010. We are asked if we could approximate the price could be for a 90 year extension to my lease. Identical homes in Haddenham with a long lease were valued about £200,000. The mid-range ground rent payable was £50 collected quarterly. The lease ended on 18 July 2104. Having 78 years outstanding we estimated the compensation to the freeholder for the lease extension to be within £8,600 and £9,800 plus expenses.

Haddenham case:

Last Summer we were called by Mr E Allen , who completed a garden apartment in Haddenham in August 2001. The dilemma was if we could estimate the price could be to prolong the lease by a further 90 years. Comparative residencies in Haddenham with a long lease were worth £267,600. The average ground rent payable was £65 invoiced monthly. The lease finished on 21 September 2093. Considering the 67 years outstanding we estimated the compensation to the freeholder to extend the lease to be within £14,300 and £16,400 exclusive of fees.