Stop! Your Lease Extension in Seaford Could Be FREE

Many leaseholders in Seaford 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 Seaford 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 Seaford lease extension


Why you should start your Seaford lease extension today:

Increase your lease and increase your Seaford property value

When it comes to long leasehold property in Seaford, you are in fact renting it for a certain amount of time. In recent years flat leases are usually granted for 99 years or 125. Even though this may appear like a lengthy period of time, you should think about extending the lease sooner rather than later. Accepted thinking is that the shorter the lease is the cost of extending the lease increases markedly notably when there are fewer than 80 years left. Anyone in Seaford with a lease nearing 81 years unexpired should seriously consider extending it without delay. Once a lease has fewer than eighty years remaining, under the current Act the landlord can calculate and levy a larger premium, assessed on a technical multiplication, known as “marriage value” which is payable.

An extended lease is almost the same value as a freehold

Leasehold residencies in Seaford with over one hundred years outstanding on the lease are often regarded as a ‘virtual freehold’. This is where the lease is worth the same as a freehold interest in your home. In such situations there is often little upside in buying the freehold unless savings on ground rent and maintenance charges justify it.

Mortgage lenders will not issue a mortgage with a short lease

Many mortgage lenders will not grant a mortgage on a lease with less than seventy years unexpired - although this varies from lender to lender. A buyer will undoubtedly find it difficult in obtaining a mortgage and this could result in your Seaford property becoming difficult to sell or refinance.

Lender Requirement
Barnsley Building Society
Chelsea Building Society
Leeds Building Society
Nationwide Building Society
Skipton Building Society

Why use us for your lease extension in Seaford?

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

Seaford Lease Extension Case Summaries:

Kirsty, Seaford, East Sussex,

Trailing protracted negotiations with the landlord of her two bedroom apartment in Seaford, Kirsty commenced the lease extension process just as the lease was coming close to the critical eighty-year threshold. The transaction completed in May 2015. The landlord’s fees were negotiated to slightly above 500 pounds.

Seaford case:

In 2011 we were e-mailed by Ms F Garcia who, having acquired a one bedroom apartment in Seaford in October 2010. The question was if we could shed any light on how much (roughly) price would be to extend the lease by ninety years. Similar residencies in Seaford with a long lease were valued about £198,800. The mid-range ground rent payable was £55 invoiced per annum. The lease expired in 2081. Given that there were 55 years outstanding we calculated the compensation to the landlord to extend the lease to be within £33,300 and £38,400 exclusive of expenses.

Seaford case:

Dr Freddie Jackson acquired a one bedroom apartment in Seaford in July 1996. We are asked if we could approximate the price would be to prolong the lease by an additional years. Comparative homes in Seaford with 100 year plus lease were valued around £300,000. The average ground rent payable was £50 collected yearly. The lease expired on 6 March 2101. Considering the 75 years as a residual term we approximated the premium to the freeholder for the lease extension to be between £8,600 and £9,800 exclusive of legals.