Stop! Your Lease Extension in Aylesbury Could Be FREE

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Many leaseholders in Aylesbury are unaware that their original lawyer had a duty to warn them about future mortgageability and saleability issues. Before you pay thousands to your freeholder, let us audit your purchase history. You might have a claim that pays for your lease extension in full

If you are facing a significant premium because your lease in Aylesbury has dropped toward the 80-year mark, your previous lawyer may be at fault. Our panel of experts specialise in recovering lease extension costs from negligent firms who failed to protect your investment.

Top reasons for Aylesbury lease extension

Top reasons for lease extension now:

Increase your lease and increase your Aylesbury property value

Chances are that where you own a flat in Aylesbury you actually own a long leasehold interest over your property

Aylesbury property with a lease extension is almost the same value as a freehold

It is generally accepted that a property with over 100 years remaining is worth approximately the same as a freehold. Where an additional 90 years added to any lease with more than 35 years remaining, the property will be equivalent in value to a freehold for many years ahead.

Mortgage lenders may decide not to lend on a short lease

The propensity since over the last decade has been for banks to tighten lending requirements generally - this has extended to the property over which the home loan is to be granted. This has meant the minimum number of years remaining under the lease required by banks has increased. In the past lenders would lend on a lease with twenty years plus the term of the loan - typically 50 year leases but those requirements are being increasingly undermined by the requirement for longer and longer leases - many now have a minimum term of 75 years as a prerequisite.

Lender Requirement
Accord Mortgages 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
Chelsea Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
Godiva Mortgages A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
Skipton Building Society 85 years from the date of completion of the mortgage

For Buy to Let cases:
- lettings must not breach any of the lessee’s covenants; and
- consent of the lessor to lettings must be obtained if necessary
Yorkshire Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

Get in touch with one of our Aylesbury lease extension solicitors or enfranchisement solicitors

Retaining our service will provide you enhanced control over the value of your Aylesbury leasehold, as your property will be more valuable and marketable in relation to the lease length should you want to sell. The lawyers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Aylesbury Lease Extension Example Cases:

Sian, Aylesbury, Buckinghamshire,

Trailing unsuccessful negotiations with the landlord of her first floor apartment in Aylesbury, Sian commenced the lease extension process just as her lease was coming close to the all-important eighty-year mark. The lease extension was concluded in October 2007. The freeholder’s charges were restricted to a tad over 550 pounds.

Aylesbury case:

In 2012 we were contacted by Mr V Phillips who, having purchased a studio apartment in Aylesbury in January 2008. We are asked if we could estimate the premium would likely be to prolong the lease by 90 years. Identical residencies in Aylesbury with a long lease were valued around £275,000. The average amount of ground rent was £65 billed every twelve months. The lease elapsed on 28 November 2094. Considering the 68 years unexpired we estimated the premium to the freeholder to extend the lease to be between £12,400 and £14,200 plus professional charges.

Aylesbury case:

Mrs O Stewart was assigned a lease of a one bedroom flat in Aylesbury in February 2005. We are asked if we could approximate the premium would be to prolong the lease by an additional years. Comparative premises in Aylesbury with a long lease were valued around £213,600. The mid-range amount of ground rent was £60 billed per annum. The lease finished on 17 October 2083. Considering the 57 years left we estimated the premium to the freeholder for the lease extension to be between £30,400 and £35,200 exclusive of expenses.