Lease Extension Surveyors in London
If you are considering extending your lease, Erikas Grig Chartered Surveyors will be pleased to assist you to navigate the intricacies of the lease extension process. We have long-standing experience helping leaseholders and landlords in London, Essex, Kent, Surrey, Sussex, Buckinghamshire, Berkshire and Hertfordshire.
Lease Extension Qualification
When you own the leasehold property it is always going to be with an expiration period. When the lease expires your leasehold interest will diminish and the flat will revert back to the freehold.
The current legislation called Leasehold Reform, Housing and Urban Development Act 1993 allows you to extend the lease for an additional 90 years on top of the existing term reducing your ground rent to a peppercorn, providing you meet the eligibility criteria and obtain lease extension valuation. This is called a formal lease extension.
It is possible to obtain a lease extension without proceeding via a formal route. You can contact your freeholder to request a lease extension. However, the terms proposed by freeholders can often be unfavourable in the majority of cases. As a result, we advise proceeding formally to secure the best possible terms.
Why You Should Extend The Lease?
You may wish to consider extending your lease for the following reasons:
- Your existing lease is below 80 years and you want to extend the lease before the property loses more of its value.
- Your existing lease is above 80 years and you wish to extend the lease before it drops below 80 years and makes your premium significantly more expensive.
- You are selling the property and wish to assign the right to extend the lease to your buyer.
- You have difficulties obtaining a mortgage/remortgage due to a short lease.
- You want to extend the lease to remove ground rent.
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Why Should You Instruct Lease Extension Surveyor?
The most reliable way to ensure that the correct lease extension premium is paid is to instruct a specialist lease extension valuation surveyor. The surveyor will inspect your property and prepare a detailed lease extension valuation report which will include the premium payable and outline all compensation elements payable to the competent landlord.
At Erikas Grig Chartered Surveyors, we offer professional lease extension advice which has been polished by working on hundreds of lease extension cases annually and assisting various parties such as buyers, funds, property management companies, charities, homeowners and landlords.
We can advise you on lease extension cost including valuation and negotiate with the opposing party to secure the most favourable terms. If a positive outcome cannot be achieved via the initial lease extension process we have experience acting as expert witnesses in front of the First Tier Tribunal and can competently represent your case.
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I contacted Erikas Grig Chartered Surveyors to conduct a survey and valuation on a period flat after reading the positive online reviews, and I was not disappointed. Erikas patiently talked me through the process and offered advice on the best type of survey for my needs. Communication with him and Iveta was seamless and prompt, both by email and phone. The survey report was incredibly thorough, useful, and offered guidance that was clear and accessible. Erikas took the time to answer all my follow-up questions and was very knowledgeable and professional. I would definitely recommend this excellent service, thanks!
Read MoreI have worked with Erikas Grig surveyors for the past few years and have found them at all times to be courteous, prompt, efficient and - most importantly - to keep the interests of you the client front and foremost. I have no hesitation in recommending Erikas Grig Surveyors for all your surveying and valuation needs.
Read MoreI recently had the pleasure of working with Erikas Grig Chartered Surveyors for a market valuation of a garage, and I must say, I am thoroughly impressed with their exceptional service. I needed the valuation done on short notice, and they truly exceeded my expectations in every aspect.
First and foremost, the team at Erikas Grig Chartered Surveyors displayed remarkable professionalism throughout the entire process. They were highly responsive and attentive to my needs, making me feel valued as a client. Despite the time constraints, they promptly scheduled the valuation and ensured a convenient time for both parties.
What truly sets them apart is their competitive pricing. I was pleasantly surprised to find that their rates were more than reasonable, especially considering the quality of service they provided. Erikas Grig Chartered Surveyors offered a fair and transparent pricing structure, which was a refreshing change compared to other companies I had considered.
The quick turnaround time is another aspect that deserves commendation. Despite the urgency, the surveyors conducted a thorough and comprehensive assessment, leaving no room for errors or oversights. They paid meticulous attention to detail, leaving me confident in the accuracy and reliability of their valuation report.
Moreover, the market valuation report itself was comprehensive and well-presented. The surveyors explained the methodology and factors considered in arriving at the valuation, ensuring complete transparency. This level of professionalism and clarity left me with a strong sense of trust in their expertise.
Overall, my experience with Erikas Grig Chartered Surveyors was outstanding. They provided me with a top-notch market valuation service on short notice, at a competitive price, and with a quick turnaround time. I wholeheartedly recommend their services to anyone in need of reliable surveying expertise.
Thank you to the entire team at Erikas Grig Chartered Surveyors for their excellent work and dedication to customer satisfaction. I will undoubtedly turn to them for any future surveying
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