Stop! Your Lease Extension in Hillingdon Could Be FREE

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Many leaseholders in Hillingdon 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 Hillingdon 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.

Main reasons to start your Hillingdon lease extension

Top reasons for lease extension now:

A Hillingdon lease depreciates with the years remaining on the lease.

The value of Hillingdon leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The expense of a lease extension can escalate significantly once the unexpired lease term is less than eighty years

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

It is conventional wisdom that a residential leasehold with in excess of 100 years unexpired lease term is worth roughly the same as a freehold. Where an further 90 years added to any lease with more than 30 years left, the premises will be worth the same as a freehold for many years ahead.

Mortgage lenders may not grant a mortgage on a short lease

Banks and building societies are really clamping down as regards to homes in Hillingdon with short leases. For example you might discover that their lending requirements are stricter and that they adjust interest rates depending on how many years are left on the lease. Some may even refrain from lending completely, so where you wanted to sell, your only options would be to find a cash buyer, or hope for the best at auction thus reducing your market.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Coventry Building Society 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.
Halifax Minimum 70 years from the date of the mortgage.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
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 Hillingdon?

Lease extensions in Hillingdon can be a difficult process. We recommend you get guidance from a conveyancer and surveyor with experience in lease extensions.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have in-depth market knowledge procuring Hillingdon lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Hillingdon Lease Extension Example Cases:

Katie, Hillingdon, West London,

Subsequent to unsuccessful correspondence with the landlord of her garden apartment in Hillingdon, Katie commenced the lease extension process just as her lease was nearing the all-important 80-year deadline. The lease extension was concluded in August 2005. The freeholder’s charges were kept to an absolute minimum.

Hillingdon case:

Last Christmas we were e-mailed by Mr and Mrs. H Morel , who moved into a purpose-built apartment in Hillingdon in October 2009. The question was if we could shed any light on how much (approximately) compensation to the landlord would be to prolong the lease by a further 90 years. Similar properties in Hillingdon with 100 year plus lease were valued about £243,000. The mid-range ground rent payable was £65 invoiced per annum. The lease ended on 14 October 2089. Having 63 years as a residual term we estimated the compensation to the landlord to extend the lease to be between £20,000 and £23,000 exclusive of legals.

Decision in Hillingdon

An example of a Freehold Enfranchisement case for a Hillingdon property 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 affected 2 flats. The unexpired lease term was 69 years.