Stop! Your Lease Extension in Bishops Cleeve Could Be FREE

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Many leaseholders in Bishops Cleeve 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 Bishops Cleeve 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.

Why you should commence your Bishops Cleeve lease extension

Main reasons to start your Bishops Cleeve lease extension today:

Increase your lease and increase your Bishops Cleeve property value

Chances are that if you own a flat in Bishops Cleeve you actually own a long leasehold interest over your property

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

It is conventional wisdom that a residential leasehold with in excess of 100 years remaining is worth roughly the same as a freehold. Where an additional 90 years added to any lease with more than 30 years left, the premises will be equivalent in value to a freehold for many years ahead.

Banks and Building Societies may decide not to issue a mortgage with a short lease

Banks and building societies differ in their lending criteria. Some set the bar at 75 years left on the lease; others may be content with anything over 70 years. With less than 60 years, it may be difficult to get a mortgage in the first place.

Lender Requirement
Accord Mortgages
Bank of Scotland
Barnsley Building Society
Coventry Building Society
Virgin

Why use us for your lease extension in Bishops Cleeve?

Engaging our service gives you better control over the value of your Bishops Cleeve leasehold, as your property will be more valuable and saleable in respect of lease length should you want to sell. The conveyancers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Bishops Cleeve Lease Extension Case Summaries:

Katherine, Bishops Cleeve, Gloucestershire,

In the wake of 9 months of unsuccessful negotiations with the freeholder of her ground floor flat in Bishops Cleeve, Katherine started the lease extension process just as her lease was coming close to the critical 80-year mark. The legal work completed in January 2012. The freeholder’s costs were kept to an absolute minimum.

Bishops Cleeve case:

In 2010 we were approached by Dr W Norbert who, having bought a ground floor flat in Bishops Cleeve in May 2007. We are asked if we could estimate the compensation to the landlord could be for a 90 year extension to my lease. Comparative residencies in Bishops Cleeve with a long lease were worth £243,000. The average ground rent payable was £65 invoiced quarterly. The lease elapsed on 18 July 2089. Given that there were 63 years left we approximated the premium to the freeholder for the lease extension to be between £20,000 and £23,000 plus costs.

Bishops Cleeve case:

Last Christmas we were phoned by Dr Thomas Jackson , who moved into a one bedroom flat in Bishops Cleeve in March 1996. We are asked if we could shed any light on how much (approximately) premium would likely be to extend the lease by 90 years. Identical flats in Bishops Cleeve with a long lease were valued about £181,600. The mid-range ground rent payable was £55 invoiced monthly. The lease terminated in 2078. Given that there were 52 years unexpired we approximated the compensation to the freeholder for the lease extension to be between £30,400 and £35,200 not including fees.