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

Main reasons to commence your Hampton Hill lease extension today:

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

The value of Hampton Hill leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of extending the lease can increase substantially once the remaining term is below than eighty years

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a residential leasehold with more than one hundred years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to any lease with more than 30 years left, the property will be worth the same as a freehold for many years ahead.

Lenders may decide not to grant a mortgage with a short lease

Many banks and building societies insist on a lengthy amount of time remaining on any leasehold residence before they will contemplate lending on it. Even if you don't require a mortgage, you should be conscious that it is likely that someone wanting to purchase your property in the future might well do, so in the event that they are unable to secure a mortgage, then the financial worth of the property could be adversely impacted. Since 2008 many mortgage lenders have increased the required minimum lease length that they are prepared to accept

Lender Requirement
Halifax Minimum 70 years from the date of the mortgage.
Skipton Building Society 85 years from the date of completion of the mortgage

For Buy to Let cases:
- lettings must not breach any of the lessee’s covenants; and
- consent of the lessor to lettings must be obtained if necessary
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
Royal Bank of Scotland Mortgage term plus 30 years.
Virgin 85 years at the time of completion. If it's less, we require it to be extended on or before completion.

Why use us for your lease extension in Hampton Hill?

Engaging our service will provide you increased control over the value of your Hampton Hill leasehold, as your property will be more valuable and saleable in relation to the lease length should you wish to sell. The conveyancing solicitors that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Hampton Hill Lease Extension Case Studies:

Jason, Hampton Hill, North London

Two years ago Jason, came precariously close to the 80-year threshold with the lease on his leasehold apartment in Hampton Hill. In buying his flat two decades ago, the lease term was of little interest. by good luck, it dawned on him that he would soon be paying an inflated amount for Extending the lease. Jason was able to extend his lease just under the wire last March. Jason and the freeholder subsequently agreed on an amount of £5,500 . If the lease had descended lower than 80 years, the figure would have increased by a minimum £1,100.

Hampton Hill case:

Dr P Sánchez took over the lease of a basement apartment in Hampton Hill in January 2011. The question was if we could shed any light on how much (roughly) price would be to prolong the lease by an additional years. Comparative flats in Hampton Hill with a long lease were in the region of £235,200. The mid-range ground rent payable was £45 invoiced monthly. The lease came to a finish on 26 February 2092. Having 66 years left we calculated the premium to the landlord for the lease extension to be within £12,400 and £14,200 exclusive of fees.

Decision in Hounslow

An example of a Lease Extension decision 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 related to 1 flat. The unexpired term as at the valuation date was 60.45 years.