Stop! Your Lease Extension in Sipson Could Be FREE

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Many leaseholders in Sipson 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 Sipson 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 Sipson lease extension

Why you should start your Sipson lease extension today:

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

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

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

It is generally accepted that a residential leasehold with more than one hundred years unexpired lease term is worth roughly the equivalent as a freehold. Where an additional 90 years added to any lease with more than 35 years unexpired, the residence will be equivalent in value to a freehold for many years in the future.

Mortgage lenders may decide not to loan monies with a short lease

Mortgage lenders have set criteria when lending monies secured on leasehold property. Some will simply refrain from lending at all once the residual lease term goes under a certain unexpired lease term. Many Lending institutions will not consider property with an unexpired below 75 years suitable security. As well as this being important when selling, it is also relevant if you are seeking to remortgage your Sipson property.

Lender Requirement
Accord Mortgages 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.
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.
Leeds Building Society 85 years remaining from the start 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.

What makes us experts in Sipson lease extensions?

The conveyancers that we work with handle Sipson 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 lawyer we work with provide it.

Sipson Lease Extension Case Studies:

Amber, Sipson, West London,

Trailing unsuccessful correspondence with the freeholder of her studio apartment in Sipson, Amber commenced the lease extension process just as her lease was nearing the all-important 80-year deadline. The lease extension was finalised in July 2008. The landlord’s fees were negotiated to slightly above 600 pounds.

Sipson case:

Last Winter we were called by Mr Callum Bernard , who purchased a purpose-built flat in Sipson in January 2006. We are asked if we could shed any light on how much (roughly) compensation to the landlord would be for a 90 year lease extension. Identical premises in Sipson with a long lease were in the region of £265,000. The mid-range ground rent payable was £50 collected per annum. The lease came to a finish in 2099. Having 73 years outstanding we calculated the premium to the freeholder for the lease extension to be within £9,500 and £11,000 not including professional charges.

Decision in Hillingdon

An example of a Freehold Enfranchisement decision for a Sipson premises 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.