Stop! Your Lease Extension in Kenley Could Be FREE

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Many leaseholders in Kenley 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 Kenley 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 Kenley lease extension

Top reasons for lease extension now:

Increase your lease and increase your Kenley property value

The basic rule is, all other things holding equal, the shorter the lease the more expensive the premium. Qualifying leaseholders in Kenley have the legal entitlement to extend the lease for a further 90 years in accordance with legislation. Do think carefully before delaying your Kenley lease extension. Shelving the costs now simply increases the premium you will eventually have to pay for a lease extension.

An extended lease is almost the same value as a freehold

It is generally considered that a residential leasehold with in excess of one hundred years unexpired lease term is worth approximately the equivalent as a freehold. Where an additional 90 years added to all but the shortest lease, the property will be equivalent in value to a freehold for many years in the future.

Mortgage lenders may not issue a mortgage on a short lease

Banks and building societies vary in their lending criteria. Some draw the line at seventy five years outstanding on the lease; others may be willing to lend with anything over 70 years. With less than 60 years, it may be challenging to obtain a mortgage at all.

Lender Requirement
Godiva Mortgages
Halifax
Leeds Building Society
National Westminster Bank
The Mortgage Works

Why use us for your lease extension in Kenley?

The conveyancing solicitors that we work with procure Kenley 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.

Kenley Lease Extension Case Summaries:

Abigail, Kenley, Surrey,

Following protracted correspondence with the landlord of her basement apartment in Kenley, Abigail initiated the lease extension process as the 80 year deadline was quickly advancing. The legal work completed in September 2015. The freeholder’s costs were kept to an absolute minimum.

Kenley case:

Mr and Mrs. H David owned a garden flat in Kenley in September 2007. We are asked if we could estimate the premium could be for a 90 year extension to my lease. Similar residencies in Kenley with a long lease were worth £218,000. The mid-range amount of ground rent was £45 invoiced per annum. The lease terminated in 2089. Considering the 63 years remaining we calculated the compensation to the landlord for the lease extension to be between £17,100 and £19,800 not including professional charges.

Decision in Croydon

An example of a Freehold Enfranchisement matter before the tribunal for a Kenley premises is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case related to 6 flats. The unexpired term as at the valuation date was 78.32 years.