Accurate Lease Extension Valuation in London by Wimbledon Surveyors
You should get valuation advice from a professional lease extension surveyor as an RICS Registered Valuer, who would naturally be familiar with the Leasehold Reform, Housing and Urban Development Act, 1993 (as Amended), in a bid to extend the leasehold of your property.
If you are the owner of a leasehold property, the fewer years left on your lease, the less valuable it will be. Once a lease falls below a certain number of years, it will have to be extended before the property is sold and most mortgage lenders will only lend against a lease having a term of 70 years or more. This may be fine for you, but what about when you want to sell the property? If you do nothing about the lease you may well experience greater difficulties in selling should your lease eventually fall below 70 years, as there can be the presumption that a buyer can not get leasehold mortgage finance.
What causes dampness to appear?
Damp is a serious problem in any home or property. The causes tend to be aspects of external landscaping or blocked subfloor or wall vents. In the long term, it would still be wise to remove an inappropriate sand and cement render. Remedies include the injection of damp proof courses.
What is Penetrating Damp?
If rainwater finds a means of entering the building externally, for example, through a defect in the fabric of the building, wind-driven rain, or even drawn through the walls by salts contained within the brickwork, then the result will be penetrating damp to the inside wall, usually in areas exposed to excessive weather conditions. This can be exacerbated by faulty guttering, defective render or external ground levels above the internal ground floor or hard landscaping.
Leaking Pipes Causing Damp
A small pipe or drainage leak is not normally a serious matter providing it is detected and prevented from re-occurring at an early stage. The same is true for spills from tanks, cisterns, baths, showers or washing machines. Such a problem is easily rectified once identified, and any damp areas will usually dry out quite naturally over some time. Left untreated, however, the moisture content of the affected area will generally rise over time, providing the perfect conditions for wood rot, fungal infestation and timber decay.
What things are included in my Damp Report?
When surveyors carry out your General Home Survey, if they think that there may be dampness, they will check the moisture levels in the inner walls with a damp meter. The surveyor would then ask for a Damp Report to be carried out by a specialist. A Damp Survey is carried out to identify the full extent of a damp problem determine what’s causing it and cash in on the correct remedial action needed.
On the day of the survey, the vendor/occupier will be asked some questions about the damp issue at hand and then the surveyor can work his way through the property usually focusing on the areas highlighted in the building surveyr. The surveyor will examine the site for signs of damp, what has likely caused it and any potential issues that may cause future dampness. With the use of quality surveying equipment and expertise on the subject, surveyor can often find the problem and resolve it with minimal damage and they can specify works that will be most cost-effective. The findings are then documented in a detailed Damp Report.
Cost of a Wimbledon London Damp Report?
Written in plain language, the Damp Report describes the extent of the damage and the recommended next steps for your Wimbledon London property. It can show additional desk research that may have been carried out to piece together what the current damage means for the property and to provide a cost estimate to eradicate the problem once and for all. The surveyors can help in so many different ways.
There is an upfront cost for the Damp Report which typically starts at £600 but, in most cases, you will save more than the cost of the survey through good advice on what works are required. If you wish to discuss your requirements for a Damp Survey Report further with their expert team please contact them.