Increase The Value of Your Property
As your lease runs down it dramatically decreases the value of your flat or apartment. The longer this goes on, the more expensive it will become to renew. On top of this, each lender has different criteria with regards to lease length and this will restrict the number of lenders in the market potentially cutting out the best deals, meaning it becomes increasingly difficult to sell when you want to.
Our Knowledge
At Watsons we’re here to help you navigate these pitfalls and negotiate a cost-effective lease extension. Our knowledge in both managing and valuing leasehold property, together with our comparable sales evidence and considerable experience, ensures that we are here to provide you with advice and help you with your negotiations. Whilst for some Lessees it may be possible to agree the premium that must be paid to the Freeholder, negotiations can often become complicated and you would then require a Chartered Surveyor to act on your behalf.
Lease Extension Report
In the report that we produce, we include the premium as well as details of how we calculated this figure. In addition, we will produce both best and worst case scenario valuations, calculated from the viewpoint of both the Freeholder and the Lessee. This will provide you with both the lowest and highest figures to enter into negotiations.
Getting a professional leasehold valuation can be critical to the success of a Lease Extension and will put you in the best position. The report will detail how much your lease extension will cost and in turn, this allows you to make an informed decision on whether you want to proceed with the extension or not.
We pride ourselves in settling our cases through reasonable negotiation. However, in the unlikely event that we cannot come to an agreement on terms, we are more than ready to act as an Expert Witness in the case of a tribunal.
To find out how Watsons Property can save you money on your lease extension or freehold purchase, give me a call today on 01603 751577, or drop me a line at j.laughlin@watsons-property.co.uk
#leasehold #leasextension #valuation #ALEP #leaseextension #leaseholdreform
James Laughlin LLB (Hons), PGDip, AssocRIC
Regional Area Surveyor – Leasehold
j.laughlin@watsons-property.co.uk
