Stop! Your Lease Extension in Capel Curig Could Be FREE

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Many leaseholders in Capel Curig 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 Capel Curig 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.

Main reasons to start your Capel Curig lease extension

Main reasons to commence your Capel Curig lease extension today:

A Capel Curig leasehold property depreciates with the years remaining on the lease.

For those whose Capel Curig property is held on a long lease, the message is clear – if no remedial action is taken, the property will ultimately revert to the freeholder, leaving you empty-handed. The shorter the lease the lower the value of the property and the more it will cost to extend the lease.

An extended lease is almost the same value as a freehold

It is generally considered that a property with in excess of 100 years unexpired lease term is worth approximately the equivalent as a freehold. Where an further ninety years added to any lease with more than 35 years left, the property will be equivalent in value to a freehold for many years ahead.

Mortgage lenders may not grant a mortgage on a short lease

Nearly all banks and building societies insist on a lengthy amount of time left on a leasehold property before they will consider lending on it. Even if you don't need a mortgage, you should be mindful that it is probable that someone wishing to purchase your property in the future might well do, so in the event that they can't obtain a mortgage, then the financial worth of the property will likely suffer. Since 2008 the majority of banks and building societies have increased the required minimum lease length that they are willing to lend on

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
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.
Santander

If the property is leasehold, the remaining unexpired lease term at the end of the new mortgage term must be at least 50 years where any part of the mortgage is on Interest Only and 30 years if all loan parts are on Capital Repayment and Interest.

You must report the unexpired lease term to us and await our instructions if: 
1. the unexpired term assumed by our valuer is between 55 and 82 years, but the actual unexpired term differs by more than one year (whether longer or shorter); or
2. the unexpired term assumed by our valuer is more than 82 years but the actual unexpired term is less than 82 years; or
3. no valuation report is provided.
 


We will accept a lease that has been extended under the provisions of the Leasehold Reform Act 1993 provided statutory compensation would be available to the leaseholder.

Skipton Building Society 85 years from the date of completion of the mortgage

For Buy to Let cases:
- lettings must not breach any of the lessee’s covenants; and
- consent of the lessor to lettings must be obtained if necessary

Why use us for your lease extension in Capel Curig?

Lease extensions in Capel Curig can be a difficult process. We recommend you secure guidance from a conveyancing solicitor and surveyor with experience in lease extensions.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have in-depth market knowledge dealing with Capel Curig lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Capel Curig Lease Extension Example Cases:

Nicole, Capel Curig, Conwy,

Following lengthy correspondence with the landlord of her ground floor flat in Capel Curig, Nicole initiated the lease extension process just as the lease was approaching the critical 80-year threshold. The lease extension was concluded in October 2007. The landlord’s charges were kept to an absolute minimum.

Capel Curig case:

Mr and Mrs. A Brown bought a purpose-built flat in Capel Curig in February 2004. The dilemma was if we could approximate the premium could be to extend the lease by ninety years. Comparative residencies in Capel Curig with a long lease were valued around £270,000. The mid-range ground rent payable was £55 collected monthly. The lease ran out in 2101. Considering the 75 years as a residual term we estimated the premium to the freeholder for the lease extension to be between £9,500 and £11,000 plus professional charges.

Capel Curig case:

Dr T Brown owned a ground floor apartment in Capel Curig in April 2007. We are asked if we could estimate the price could be to extend the lease by 90 years. Comparative flats in Capel Curig with a long lease were worth £168,800. The average amount of ground rent was £60 collected every twelve months. The lease concluded on 23 March 2081. Considering the 55 years left we approximated the premium to the landlord for the lease extension to be between £30,400 and £35,200 not including costs.