Top reasons for Leytonstone lease extension

Main reasons to start your Leytonstone lease extension today:

Increase your lease and increase your Leytonstone property value

The rule of thumb is, all other factors being equal, the shorter the lease the more expensive the premium. Qualifying leaseholders in Leytonstone may extend the lease for a further 90 years in accordance with the 1993 Leasehold Reform Act. Do think carefully before delaying your Leytonstone lease extension. Postponing the costs now simply increases the premium you will eventually be required to pay to extend the lease.

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

It is conventional wisdom that a residential leasehold with over one hundred years remaining is worth approximately the equivalent as a freehold. Where an additional 90 years added to all but the shortest lease, the premises will be equivalent in value to a freehold for many years ahead.

Lenders may not finance a property with a short lease

What makes us experts in Leytonstone lease extensions?

Engaging our service will provide you enhanced control over the value of your Leytonstone leasehold, as your property will be more valuable and saleable in terms of lease length should you want 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.

Leytonstone Lease Extension Case Studies:

Caleb, Leytonstone, North East London,

Caleb owned a high value apartment in Leytonstone being sold with a lease of a little over sixty years left. Caleb informally contacted his freeholder a well known local-based freehold company for a lease extension. The freeholder indicated a willingness to extend the lease to 125 years on the basis of a new rent initially set at £150 per annum and increase every twenty five years thereafter. Ordinarily, ground rent would not be payable on a lease extension were Caleb to exercise his statutory right. Caleb obtained expert legal guidance and was able to make a more informed decision and deal with the matter and ending up with a market value flat.

Leytonstone case:

Last Winter we were approach by Mr C Miller , who was assigned a lease of a ground floor flat in Leytonstone in May 1999. The question was if we could approximate the compensation to the landlord would be to extend the lease by ninety years. Comparable premises in Leytonstone with 100 year plus lease were in the region of £240,600. The mid-range ground rent payable was £65 billed yearly. The lease finished on 12 June 2088. Given that there were 62 years outstanding we approximated the premium to the landlord for the lease extension to be between £21,900 and £25,200 exclusive of expenses.