Owning or renting made easy....
Most businesses own property. Very few businesses know what rights and obligations affect their properties and still fewer actively use them to increase their profitability. Yet knowing when your lease is going to end and what happens when it does can make all the difference to your business prospects. Similarly, if you rent out property, you may be in a better position to maximise your income if you know how easy it is for you or your tenant to bring the lease to an end.
We can help you..
Whether you are a owner or a tenant, you are subject to an ever-increasing range of laws, many of which could cost you thousands of pounds to comply with. Do you have disabled access? Have you carried out your fire safety inspections? Do you need an Energy Performance Certificate? Just knowing the answers to these questions can make it easier to buy, sell or let properties.
Why not let us carry out a FREE Property health check. Simply send us details of the properties you own and we will advise FOR FREE how you can use your properties to make your business more profitable.
Lease Extensions or Collectively buying with others?
Should I extend my lease? How much will it cost? What is the process?
Most lenders insist that a term of at least 35 years must exist on a lease in addition to the required mortgage term. Therefore, if a borrower requests a 25 year mortgage term the remaining lease term must be at least 60 years. If the remaining lease term is shorter, the lease will need to be extended to make the property mortgageable. The process of extending a lease can also add significant value to a property. Today’s good news is that the cost of lease extension is now far easier to calculate.
We regularly help extend blocks of flats charging as little as £350 per property. If you are thinking of extending or just need some clear advice on the what you need to do and the costs involved just call us or pop in for a free chat.
Contact Nicola Stapleton on 01865 883344 or nicola@beechwoodsolicitors.com