Lease Extensions

Lease Extensions or Collectively buying with others?

Should I extend my lease? How much will it cost? What is the process?
Most lenders insist that a term of at least 35 years must exist on a lease in addition to the required mortgage term. Therefore, if a borrower requests a 25 year mortgage term the remaining lease term must be at least 60 years. If the remaining lease term is shorter, the lease will need to be extended to make the property mortgageable. The process of extending a lease can also add significant value to a property. Today’s good news is that the cost of lease extension is now far easier to calculate.

We regularly help extend blocks of flats charging as little as £350 per property. If you are thinking of extending or just need some clear advice on the what you need to do and the costs involved just call us or pop in for a free chat.

Contact Nicola Stapleton on 01865 883344 or nicola@beechwoodsolicitors.com

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Your approach minimised the work necessary on your part and prodded the vendors solicitor to do the same. In BNI you have spoken of your insistence on dealing with clients personally, of being contactable and producing results. This mirrors my experience with you and your staff.

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