Main reasons to start your Abertridwr lease extension

Top reasons for lease extension now:

Increase your lease and increase your Abertridwr property value

Abertridwr leases on domestic deteriorating in value. if your lease has approximately ninety years left, you should start thinking about a lease extension. If lease term is under 80 years, you will then have to pay half of the property's 'marriage value' on top of the usual cost of the lease extension to the landlord. Marriage value is the amount of additional value that a lease extension will add to the property. Leasehold owners in Abertridwr will usually be legally entitled to a lease extension; however it’s a good idea to check with a lawyer to check if you qualify. In some situations you may not qualify. There are also strict timetables and formalities to comply with once the process is initiated so it’s sensible to be guided by a conveyancing solicitor during the process.

Abertridwr property with a lease extension has roughly the same value as a freehold

It is generally accepted that a residential leasehold with in excess of one hundred years remaining is worth approximately the equivalent as a freehold. Where an further ninety years added to all but the shortest lease, the residence will be equivalent in value to a freehold for decades to come.

Lending institutions may decide not to loan monies with a short lease

Banks and building societies are making their criteria more stringent and many now expect flats to have at least 60 if not 70 years remaining at the expiry of the mortgage. Given that a number of flats in Abertridwr were created in the fifties, sixties and seventies this means many now need to be extended if they wish to obtain a mortgage.

What makes us experts in Abertridwr lease extensions?

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

Abertridwr Lease Extension Example Cases:

Isobel, Abertridwr, Caerphilly,

After lengthy negotiations with the freeholder of her one bedroom flat in Abertridwr, Isobel commenced the lease extension process as the 80 year threshold was swiftly nearing. The transaction was concluded in July 2011. The freeholder’s fees were kept to an absolute minimum.

Abertridwr case:

Last Summer we were phoned by Dr Chloe Ali , who bought a first floor apartment in Abertridwr in July 2006. The question was if we could shed any light on how much (roughly) compensation to the landlord could be for a 90 year extension to my lease. Identical flats in Abertridwr with a long lease were in the region of £260,000. The average amount of ground rent was £50 billed monthly. The lease end date was on 18 January 2098. Having 72 years left we estimated the premium to the landlord for the lease extension to be within £9,500 and £11,000 plus fees.

Abertridwr case:

Ms Holly Collins completed a one bedroom apartment in Abertridwr in August 2007. We are asked if we could approximate the compensation to the landlord would be for a ninety year extension to my lease. Identical properties in Abertridwr with 100 year plus lease were worth £261,600. The average ground rent payable was £60 billed yearly. The lease termination date was in 2078. Taking into account 52 years as a residual term we calculated the premium to the freeholder for the lease extension to be between £39,000 and £45,000 not including professional charges.