Stop! Your Lease Extension in Ash Could Be FREE

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Many leaseholders in Ash 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 Ash 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 Ash lease extension

Why you should start your Ash lease extension today:

Increase your lease and increase your Ash property value

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

An extended lease has roughly the same value as a freehold

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

Lenders will not finance a property with a short lease

Most banks have tightened lending criteria in recent years and borrowers are finding it increasingly difficult to raise funding or re-mortgage against property with shorter lease terms, particularly below seventy years as they are regarded as insufficient for lending purposes.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
Birmingham Midshires Minimum 70 years from the date of the mortgage.
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.
Virgin 85 years at the time of completion. If it's less, we require it to be extended on or before completion.

What makes us experts in Ash lease extensions?

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

Ash Lease Extension Example Cases:

Katherine, Ash, Surrey,

In the wake of eight months of protracted negotiations with the landlord of her purpose-built apartment in Ash, Katherine commenced the lease extension process as the eighty year threshold was rapidly nearing. The transaction was concluded in October 2005. The landlord’s costs were negotiated to slightly above 450 pounds.

Ash case:

Dr Milo Wright took over the lease of a newly refurbished flat in Ash in July 2003. The question was if we could estimate the compensation to the landlord would likely be for a 90 year lease extension. Identical flats in Ash with a long lease were valued about £208,200. The average amount of ground rent was £65 collected every twelve months. The lease expired in 2087. Having 61 years outstanding we calculated the premium to the landlord for the lease extension to be between £20,000 and £23,000 exclusive of costs.

Ash case:

Last year we were e-mailed by Mrs C Martin , who acquired a ground floor flat in Ash in November 2008. The dilemma was if we could estimate the compensation to the landlord would be to prolong the lease by 90 years. Comparative premises in Ash with a long lease were in the region of £260,000. The mid-range ground rent payable was £50 billed every twelve months. The lease lapsed in 2098. Having 72 years as a residual term we estimated the compensation to the freeholder to extend the lease to be between £9,500 and £11,000 not including expenses.