Stop! Your Lease Extension in Roath Park Could Be FREE

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Many leaseholders in Roath Park 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 Roath Park 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 Roath Park lease extension

Why you should start your Roath Park lease extension today:

Increase your lease and increase your Roath Park property value

On the balance of probabilities if you own a flat in Roath Park you actually own a long leasehold interest over your property

An extended lease is almost the same value as a freehold

It is generally accepted that a property with more than 100 years unexpired lease term is worth approximately the equivalent as a freehold. Where an further ninety years added to any lease with more than 30 years left, the residence will be worth the same as a freehold for decades to come.

Lenders may not lend with a short lease

Banks and building societies are tightening their criteria and a meaningful number now require flats to have a minimum of sixty if not seventy years left once the mortgage has expired. Given that many flats in Roath Park were created in the 1950s, 1960s and 1970s as a result many now need to be extended if they if they are to be mortgageable.

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.
Leeds Building Society 85 years remaining from the start of the mortgage.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must be at least 75 years plus the term of the mortgage at the outset of the mortgage.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.

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

Lease extensions in Roath Park can be a difficult process. We recommend you obtain professional help from a conveyancing solicitor and surveyor well versed in the legislation and lease extension process.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have in-depth market knowledge dealing with Roath Park lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Roath Park Lease Extension Case Summaries:

Jasmine, Roath Park, Cardiff,

Subsequent to lengthy correspondence with the freeholder of her leasehold apartment in Roath Park, Jasmine commenced the lease extension process as the eighty year mark was quickly nearing. The transaction completed in February 2006. The landlord’s charges were kept to an absolute minimum.

Roath Park case:

Mr and Mrs. F Smith owned a one bedroom flat in Roath Park in September 2005. The dilemma was if we could approximate the price would be to extend the lease by 90 years. Identical premises in Roath Park with an extended lease were valued around £200,800. The average ground rent payable was £65 collected per annum. The lease ended on 5 October 2086. Given that there were 60 years remaining we approximated the compensation to the freeholder for the lease extension to be between £20,900 and £24,200 not including professional charges.

Roath Park case:

In 2010 we were called by Mrs P White who, having bought a newly refurbished flat in Roath Park in July 1997. The question was if we could estimate the price could be to extend the lease by a further 90 years. Comparable flats in Roath Park with 100 year plus lease were valued about £260,000. The average ground rent payable was £50 billed monthly. The lease end date was in 2097. Taking into account 71 years as a residual term we approximated the compensation to the freeholder to extend the lease to be between £9,500 and £11,000 not including legals.