Stop! Your Lease Extension in Brighouse Could Be FREE

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Many leaseholders in Brighouse 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 Brighouse 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 Brighouse lease extension

Why you should commence your Brighouse lease extension today:

Increase your lease and increase your Brighouse property value

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

An extended lease is almost the same value as a freehold

It is conventional wisdom that a residential leasehold with in excess of one hundred years remaining is worth roughly the equivalent as a freehold. Where an additional 90 years added to any lease with more than 45 years unexpired, the premises will be worth the same as a freehold for decades to come.

Mortgage lenders may decide not to finance a property on a short lease

Lending institutions are less likely to grant a mortgage on a domestic flat in Brighouse with a short lease. Some lenders simply refuse a mortgage on leases with less than 75 years remaining.

Lender Requirement
Birmingham Midshires Minimum 70 years from the date of the mortgage.
Coventry Building Society A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
Halifax Minimum 70 years from the date of the mortgage.
Leeds Building Society 85 years remaining from the start of the mortgage.
Royal Bank of Scotland Mortgage term plus 30 years.

What makes us experts in Brighouse lease extensions?

The conveyancing solicitors that we work with procure Brighouse lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancer we work with provide it.

Brighouse Lease Extension Case Studies:

Molly, Brighouse, West Yorkshire,

In the wake of 6 months of lengthy correspondence with the freeholder of her basement apartment in Brighouse, Molly initiated the lease extension process just as her lease was coming close to the critical 80-year mark. The legal work was concluded in March 2012. The landlord’s fees were restricted to less than 600 pounds.

Brighouse case:

Dr Riley García purchased a first floor apartment in Brighouse in June 1996. We are asked if we could shed any light on how much (approximately) compensation to the landlord would likely be for a 90 year lease extension. Identical flats in Brighouse with a long lease were worth £225,800. The mid-range ground rent payable was £60 collected quarterly. The lease concluded on 19 September 2086. Having 60 years as a residual term we estimated the compensation to the landlord for the lease extension to be between £23,800 and £27,400 plus costs.

Brighouse case:

In 2011 we were contacted by Mr Kai Miller who, having bought a basement apartment in Brighouse in September 2008. We are asked if we could estimate the premium would be for a ninety year extension to my lease. Comparable residencies in Brighouse with a long lease were valued around £210,000. The mid-range amount of ground rent was £50 invoiced quarterly. The lease finished on 10 May 2106. Considering the 80 years left we estimated the compensation to the freeholder for the lease extension to be between £8,600 and £9,800 not including expenses.