Stop! Your Lease Extension in Barnehurst Could Be FREE

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Many leaseholders in Barnehurst 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 Barnehurst 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.

Main reasons to start your Barnehurst lease extension

Main reasons to start your Barnehurst lease extension today:

Increase your lease and increase your Barnehurst property value

The only way is down when it comes to Barnehurst lease terms. Barnehurst flats that have a lease term less than than eighty years will drop in market price at a rapid rate, and the cost of extending your lease will go up.

An extended lease has roughly the same value as a freehold

It is generally accepted that a property with more than one hundred years remaining is worth approximately the same as a freehold. Where an additional 90 years added to any lease with more than 35 years left, the premises will be equivalent in value to a freehold for decades to come.

Banks and Building Societies may not grant a mortgage with a short lease

The definition of a short lease varies by mortgage company, yet lending institutions start to become jittery at around 75 years. This may cause difficulties once you need to dispose of or refinance your flat as it will be effectively unmortgageable. You may have no immediate plan to sell but when you do your purchaser must hold off for a couple of years before they can exercise the right to a a lease extension.

Lender Requirement
Godiva Mortgages
Halifax
Leeds Building Society
National Westminster Bank
Royal Bank of Scotland

Why use us for your lease extension in Barnehurst?

Irrespective of whether you are a tenant or a landlord in Barnehurst,the lease extension lawyers that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Barnehurst valuers.

Barnehurst Lease Extension Example Cases:

Benjamin, Barnehurst, South East London

In 2014 Benjamin, came very close to the 80-year threshold with the lease on his purpose- built apartment in Barnehurst. Having bought his flat two decades ago, the lease term was of little importance. Thankfully, he noticed he needed to take steps soon on a lease extension. Benjamin was able to extend his lease just under the wire last May. Benjamin and the freeholder via the managing agents ultimately agreed on an amount of £5,000 . If he had missed the deadline, the amount would have increased by a minimum £925.

Barnehurst case:

Dr Anna Evans completed a studio apartment in Barnehurst in August 2010. We are asked if we could estimate the price could be to extend the lease by a further 90 years. Comparative properties in Barnehurst with a long lease were worth £233,200. The average ground rent payable was £60 invoiced per annum. The lease ended in 2087. Taking into account 61 years outstanding we calculated the premium to the landlord for the lease extension to be within £22,800 and £26,400 exclusive of professional charges.

Decision in Bexley

An example of a Lease Extension matter before the tribunal for a Barnehurst residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case affected 13 flats. The unexpired term was 76 years.