Lease extension service to the rescue
- 23rd November 2011
- Selling Property News
Increasing the value and prospects of leasehold properties for sale with lease extension services.
Short leases can cause problems with property sales, as potential buyers might struggle to get a mortgage when there are fewer than 80 years left on the lease.
Even if they are able to get a bank to lend to them, interest rates tend to be higher, making the property less attractive to them.
Stephen Ludlow, Chairman of ludlowthompson, comments: “Our new lease extension service offers customers a one stop shop to extend their lease at a fixed cost.
"Many buyers need to extend their lease prior to a sale and we are providing our customers with an easy to use service with a reasonable and transparent cost.”
Facts about leaseholds
- There are over 3 million leasehold properties in the UK.
- 72% of London properties are leasehold.
- Leaseholders have a statutory right to extend their lease under the Leasehold Reform Housing and Urban Development Act 1993.
Our new lease extension service offers customers a one stop shop to extend their lease at a fixed cost.
FREE & INSTANT PROPERTY VALUATION
IN JUST 60 SECONDS