If you own a leasehold property it is important to keep a check on the length of your outstanding lease. It is not uncommon for owners of flats or leasehold houses to overlook their ever decreasing lease length until they come to sell the property, often finding themselves with an asset that has depreciated considerably without them knowing it.
Mortgage lenders will often refuse to lend against leasehold flats with less than 70 or 80 years on the lease, and as the cost of extending your lease can be considerably reduced by doing so before it reaches 80 years it is always worthwhile extending your lease as soon as you are able to.
We are usually able to offer fixed fees for assisting clients in statutory or non-statutory lease extensions, and assist in locating a suitably experienced local surveyor to assist you with the valuation of the likely premium payable.
If you are interested in extending your lease, we are working on a Lease Extension premium calculator to gain a rough idea of the likely premium you will need to pay. Check back again soon or contact us now to find out more.