Stop! Your Lease Extension in Braintree Could Be FREE

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Many leaseholders in Braintree 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 Braintree 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 Braintree lease extension

Top reasons for lease extension now:

A Braintree lease depreciates with the years remaining on the lease.

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

An extended lease is almost the same value as a freehold

It is generally considered that a residential leasehold with more than one hundred years unexpired lease term 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.

Lenders may not issue a mortgage with a short lease

Most banks have constrained their lending criteria in the last ten years and borrowers are encountering difficulties in arranging finance or re-mortgage against property with shorter lease terms, particularly under 75 years as they are regarded as inadequate for lending purposes.

Lender Requirement
Barnsley Building Society
Chelsea Building Society
National Westminster Bank
Santander
Virgin

Why use us for your lease extension in Braintree?

Irrespective of whether you are a tenant or a landlord in Braintree,the lease extension experts that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Braintree valuers.

Braintree Lease Extension Case Studies:

Max, Braintree, Essex

Last Christmas Max, came perilously near to the 80-year mark with the lease on his purpose- built apartment in Braintree. Having bought his property 19 years ago, the length of the lease was of no concern. Luckily, he recognised he needed to take action soon on a lease extension. Max was able to extend his lease at the eleventh hour last April. Max and the landlord who owned the flat above in the end agreed on an amount of £6,000 . If the lease had gone to less than 80 years, the figure would have gone up by at least £925.

Braintree case:

Last Autumn we were contacted by Mr Hunter Kelly , who bought a newly refurbished flat in Braintree in January 2010. The question was if we could approximate the price would be to extend the lease by ninety years. Comparative residencies in Braintree with 100 year plus lease were valued about £280,000. The average amount of ground rent was £55 billed annually. The lease ended on 8 February 2104. Considering the 78 years remaining we calculated the premium to the freeholder to extend the lease to be within £13,300 and £15,400 exclusive of costs.

Braintree case:

Mr and Mrs. C Patel moved into a purpose-built apartment in Braintree in June 2000. The dilemma was if we could approximate the price could be to extend the lease by 90 years. Comparable homes in Braintree with a long lease were worth £191,000. The mid-range ground rent payable was £65 invoiced yearly. The lease ended on 4 April 2084. Considering the 58 years as a residual term we approximated the premium to the freeholder for the lease extension to be between £23,800 and £27,400 plus professional charges.