Erikas Grig Chartered Surveyors is pleased to announce the launch of a new tool designed to assist apartment owners in determining the cost of extending a lease of an apartment in the United Kingdom. The English property ownership is based on the leasehold system, which means that the apartments are always on the lease with an expiry date, and the lease must be extended from time to time. Usually, to understand how much it costs to extend the lease, you need to instruct a Chartered Surveyor to do the valuation.
Erikas Grig Chartered Surveyors launched an online Lease Extension Calculator, which provides lease extension costs range with approximately 70% accuracy. The tool helps flat owners in the UK to better understand the costs of lease extension and budget appropriately. When considering whether to extend a lease or not, this tool can be invaluable when making initial financial decisions about implications of lease extension cost to finances of those planning to extend the lease.
In addition to the lease extension, a group of leaseholders in the shared block of flats can join together in the statutory process called collective enfranchisement. This allows them to take the freehold control into their hands by enfranchising the freehold title from the current landlord, under set eligibility criteria in Leasehold Reform, Housing and Urban Development Act 1993. This lease extension calculator to a certain extent can be used to calculate the potential costs of freehold enfranchisement.
Further details are available at https://www.erikasgrig.com/calculators/lease-extension-calculator
The company offers a range of services associated with property valuation. These include commercial valuation (lease renewals, rent reviews, valuation, and dilapidations); residential property valuation services include shared-ownership; help to buy; matrimonial; probate; reinstatement cost; tax; compulsory purchase, market valuation, lease extension and collective enfranchisement.
Building Surveying is another service provided by professionals. They can provide a detailed condition report, a homebuyer survey, and a building survey. In addition to the Lease Extension Calculator tool, the website also offers a CPI Inflation Calculator and an RPI Inflation Calculator.
Find out more at Erikas Grig – Lease Extension
Company Name: Erikas Grig Chartered Surveyors
Contact Person: Erikas Grig
Email: Send Email
Address:Kemp House, 152-160 City Road
State: London, EC1V 2NX
Country: United Kingdom