Is the lease on your home getting shorter? As a lease runs down, it can quietly erode the value of your property and make it harder to sell or remortgage. A lease extension can reverse that, giving you a more valuable, more marketable home and the security of knowing your lease won’t run out.
Watch the video below, in which a member of our expert legal team, explains the key benefits of extending your lease and who may be eligible to do so.
Why Extend Your Lease? The Benefits Explained Transcript
Are you a residential leaseholder or thinking about becoming one? Did you know that as the length of your lease decreases, the value of your property does too? A short lease can also make it difficult to sell or remortgage your home.
Fortunately, in England, leaseholders who meet certain criteria have the right to extend the lease of the property in a process known as a lease extension.
There are several reasons why you should consider extending your lease, including protecting and even significantly increasing the market value of your property. A lease extension can also improve the saleability and mortgageability of your property. A longer lease is more attractive to potential buyers and mortgage lenders alike.
Finally, knowing your lease won’t run out can provide you with peace of mind and financial stability. Get in touch if you’re considering a lease extension or would like to discuss your eligibility for one.
Get in Touch with Newtons Solicitors
Newtons Solicitors has offices throughout Yorkshire, the North East, and Cumbria, so you can access legal services in the location most convenient to you.
If you would like to learn more about lease extensions, please don’t hesitate to reach out to our friendly team. We’re here to guide you through the process so you can protect your home and its value for years to come.