Freehold Purchase / Leasehold Extension
If your legal ownership of a property is under a Lease which was originally of 99 years or more we can advise you on either purchasing the freehold i.e. outright ownership, or an extension of your Lease (usually where your Lease is of a flat).
We normally recommend that an application is made either to extend a Lease or to purchase the freehold ownership if your Lease is of 80 years or less. This is because mortgage lenders will not usually accept a Lease of less than 70 years as sufficient security. Also, the purchase cost rises significantly at less than 80 years left.
We are able to advise resident owners either for a single property or in cases where owners of flats act together to purchase the freehold of their building.
Any of our team will be pleased to help with your enquiry and will provide a no-obligation quotation of our fees.