Extend Your Lease
With a trusted network of solicitors and surveyors, Regency Leasehold effectively manages and negotiates the best lease extension premiums possible.
Our team will ensure that your interests are protected, are duly represented, and that you are briefed about the key milestones and appropriate timescales of the process.
Why Should You Extend Your Lease?
The number of years remaining on your lease has a significant influence over the value of your property and its marketability; the shorter the lease term, the more your property will drop in value.
Under UK law, if you have owned your flat for two or more years you can extend your lease whenever you deem necessary.
Extending your lease can be expensive. However, it is an essential process to maximise value and provides an opportunity to rectify any lease clauses that may be detrimental to the value of the property.
What if you Choose Not to Extend your Lease?
By delaying or not extending your lease, your lease extension will cost you more whilst simultaneously depreciating the value of your asset. In addition, the longer the lease is left below 80 years, the premium price of your prospective lease extension will increase exponentially.
Some premiums have been known to double or even treble after being delayed just 3-5 years. To be more specific:
Under 70 years.
Most mortgage lenders choose not to lend against properties with leases below this level or will offer much less favourable terms.
70 to 80 years.
Take action now as the cost of rectifying the problem is increasing exponentially.
Over 80 years.
If your lease is 85 years or below, you should begin to think about extending your lease now. Taking prompt action will avoid ‘marriage value’, whereby the freeholder is entitled to 50% of any uplift in value resulting from a lease extension or freehold purchase. To find out more about 'marriage values', check out our FAQ page.
How much will your Lease Extension cost?
We promise that our fees for managing the lease extension process are all fixed and not subject to change.
Unlike many of our competitors, Regency Leasehold will provide you with a comprehensive breakdown of all the known costs right at the start of the process so you know what you're paying for.
Within just one month of your initial lease extension valuation survey, our experts will be able to calculate and provide you with an estimate of your lease extension premium. If the premium is higher than you expected and you can't afford to go ahead with your lease extension quite yet, you are not obligated to proceed.
To find out more about our flexible lease extension management service, download our free guide by clicking the link at the top of the screen or by clicking here.
Alternatively, to find out more information about our price list or to make an enquiry about our services, please do not hesitate to contact us on 0845 838 5172 or email us at email@example.com to speak with a member of our team.
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