Hillingdon Lease Extension - Free Consultation

Get a Quote

Before you progress with your lease extension in Hillingdon
Get a quote from one of our lease extension experts with over 20 years experience.

Let them guide you for FREE on the various options available to you.

It may end up saving you thousands.

Why you should start your Hillingdon lease extension

Why you should start your Hillingdon lease extension today:

Increase your lease and increase your Hillingdon property value

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

An extended lease is almost the same value as a freehold

It is generally accepted that a property with more than 100 years unexpired lease term is worth approximately the equivalent as a freehold. Where an further 90 years added to all but the shortest lease, the residence will be equivalent in value to a freehold for decades to come.

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

Most banks have narrowed their lending criteria in the last ten years and borrowers are finding it increasingly difficult to raise funding or re-mortgage against property with shorter lease terms, particularly below seventy years as they are considered to be unacceptable security.

Lender Requirement
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.
Halifax Minimum 70 years from the date of the mortgage.
Lloyds TSB Scotland Minimum 70 years from the date of the mortgage.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must also be not less than 75 years at the outset of the mortgage.
Yorkshire 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.

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

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

Hillingdon Lease Extension Example Cases:

Jasmine, Hillingdon, West London,

In the wake of 6 months of unsuccessful correspondence with the landlord of her ground floor apartment in Hillingdon, Jasmine initiated the lease extension process as the 80 year mark was rapidly nearing. The legal work was finalised in June 2009. The landlord’s charges were kept to an absolute minimum.

Hillingdon case:

Ms Shannon Johnson purchased a newly refurbished flat in Hillingdon in February 1995. We are asked if we could estimate the compensation to the landlord could be for a 90 year lease extension. Identical residencies in Hillingdon with a long lease were in the region of £166,800. The average amount of ground rent was £50 collected annually. The lease finished on 28 October 2075. Considering the 50 years remaining we calculated the compensation to the landlord to extend the lease to be within £32,300 and £37,400 not including fees.

Decision in Hillingdon

An example of a Freehold Enfranchisement matter before the tribunal for a Hillingdon residence is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired term as at the valuation date was 69 years.