Stop! Your Lease Extension in Hampton Hill Could Be FREE

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Many leaseholders in Hampton Hill 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 Hampton Hill 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.

Top reasons for Hampton Hill lease extension

Top reasons for lease extension now:

A Hampton Hill leasehold property depreciates with the years remaining on the lease.

Hampton Hill residential property owned on a long lease is a depreciating asset as the leaseholder merely owns the property for a set term.

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

It is conventional wisdom that a residential leasehold with more than 100 years remaining is worth roughly the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, 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

Lending institutions are less likely to grant a mortgage on a residential flat in Hampton Hill with a short lease. Some lenders simply refuse a mortgage on leases with less than 75 years remaining.

Lender Requirement
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
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.
Godiva Mortgages A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
Leeds Building Society 85 years remaining from the start of the mortgage.
Santander

If the property is leasehold, the remaining unexpired lease term at the end of the new mortgage term must be at least 50 years where any part of the mortgage is on Interest Only and 30 years if all loan parts are on Capital Repayment and Interest.

You must report the unexpired lease term to us and await our instructions if: 
1. the unexpired term assumed by our valuer is between 55 and 82 years, but the actual unexpired term differs by more than one year (whether longer or shorter); or
2. the unexpired term assumed by our valuer is more than 82 years but the actual unexpired term is less than 82 years; or
3. no valuation report is provided.
 


We will accept a lease that has been extended under the provisions of the Leasehold Reform Act 1993 provided statutory compensation would be available to the leaseholder.

Why use us for your lease extension in Hampton Hill?

The conveyancing solicitors that we work with handle Hampton Hill 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.

Hampton Hill Lease Extension Case Studies:

Sarah, Hampton Hill, North London,

In the wake of 6 months of unsuccessful correspondence with the freeholder of her two bedroom apartment in Hampton Hill, Sarah started the lease extension process just as the lease was nearing the crucial eighty-year deadline. The legal work was finalised in November 2013. The freeholder’s fees were restricted to under 650 pounds.

Hampton Hill case:

Ms B Lefèvre was assigned a lease of a one bedroom apartment in Hampton Hill in June 2007. We are asked if we could estimate the price would be for a ninety year extension to my lease. Comparable properties in Hampton Hill with 100 year plus lease were in the region of £191,000. The average ground rent payable was £65 invoiced per annum. The lease elapsed in 2084. Considering the 58 years left we calculated the compensation to the landlord to extend the lease to be between £23,800 and £27,400 plus costs.

Decision in Hounslow

An example of a Lease Extension case for a Hampton Hill flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case affected 1 flat. The number of years remaining on the existing lease(s) was 60.45 years.