The only way is down when it comes to Sunningdale lease terms. Sunningdale leaseholds that have a residual term lower than eighty years will reduce in market price at a rapid rate, and the cost to extend your lease will go up.
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 all but the shortest lease, the premises will be worth the same as a freehold for many years ahead.
| Lender | Requirement |
|---|---|
| Birmingham Midshires | |
| Chelsea Building Society | |
| Halifax | |
| National Westminster Bank | |
| Skipton Building Society |
Lease extensions in Sunningdale can be a difficult process. We recommend you get guidance from a lawyer and valuer well versed in the legislation and lease extension process.
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 Sunningdale lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.
Subsequent to protracted discussions with the freeholder of her one bedroom apartment in Sunningdale, Laura initiated the lease extension process as the eighty year deadline was rapidly approaching. The legal work completed in May 2014. The landlord’s costs were kept to an absolute minimum.
In 2013 we were called by Mr Felix Baker who, having purchased a one bedroom flat in Sunningdale in May 2011. The question was if we could estimate the price would be to prolong the lease by 90 years. Comparable flats in Sunningdale with an extended lease were in the region of £270,000. The mid-range amount of ground rent was £55 invoiced monthly. The lease finished in 2100. Considering the 74 years unexpired we approximated the compensation to the freeholder to extend the lease to be within £9,500 and £11,000 exclusive of professional charges.
Mrs A Davies bought a one bedroom apartment in Sunningdale in September 2010. We are asked if we could shed any light on how much (approximately) price could be to prolong the lease by ninety years. Comparative properties in Sunningdale with an extended lease were worth £166,400. The mid-range ground rent payable was £60 invoiced annually. The lease terminated on 14 October 2080. Having 54 years left we approximated the premium to the landlord for the lease extension to be within £32,300 and £37,400 plus fees.