Lease extension

By Shaun Adams SUBSCRIBE TO NEWSLETTER

The value of a leasehold apartment or flat can vastly vary according to the length of your lease. All buyers and their solicitors prefer a longer lease.

Many times the value can be increased more than the cost of the lease. Some lenders will not deal with leases less than 80 years remaining, this will reduce your amount of potential buyers together with their offers and therefore a lower final price.

If you ask your managing agents or freeholder directly for a price to extend or a new lease the fees could be sky high.

Each year that passes by, the revised lease cost increases at a steeper angle.

At Cooper Adams we work alongside a Chartered surveyor who specialises in this and covers the whole of Sussex. Their fee will easily outweigh what they can save you.

Their job is to get a longer lease for you at the best price, they will advise you the likely total cost including the fee compared the total cost going directly to the freeholder before they commence any work.

Their areas of expertise are Worthing, Goring, Littlehampton, Rustington, Lancing, Shoreham, Ferring, East Worthing, Broadwater, Angmering, East Preston, Durrington, Findon, West Worthing and many areas around.

Please contact us for a free no obligation chat and how we can help – 01903 770055. We will need the value of the property, term left on the lease and current ground rent cost.