Stop! Your Lease Extension in Clare Could Be FREE

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Many leaseholders in Clare 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 Clare 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 start your Clare lease extension

Main reasons to commence your Clare lease extension today:

A Clare leasehold property depreciates with the years remaining on the lease.

The only way is down when it comes to Clare lease terms. Clare properties that have a residual term fewer than 80 years will de-escalate in market price at a rapid rate, and the cost of extending your lease will go up.

An extended lease is almost the same value as a freehold

It is conventional wisdom that a residential leasehold with more than one hundred years unexpired lease term is worth roughly the equivalent as a freehold. Where an further ninety years added to any lease with more than 30 years left, the property will be equivalent in value to a freehold for many years ahead.

Lending institutions may not issue a mortgage with a short lease

Mortgage Lenders are distinct in their lending requirements. Some set the bar at seventy five years remaining on the lease; others may be content with anything in excess 70 years. With less than 60 years, it may be difficult to get a mortgage in the first place.

Lender Requirement
Godiva Mortgages
National Westminster Bank
Nationwide Building Society
The Mortgage Works
Yorkshire Building Society

Get in touch with one of our Clare lease extension solicitors or enfranchisement solicitors

Regardless of whether you are a tenant or a freeholder in Clare,the lease extension solicitors that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Clare valuers.

Clare Lease Extension Example Cases:

Katherine, Clare, Suffolk,

Trailing unsuccessful negotiations with the freeholder of her garden flat in Clare, Katherine commenced the lease extension process as the 80 year deadline was rapidly coming. The legal work was finalised in January 2005. The freeholder’s costs were negotiated to less than 650 pounds.

Clare case:

In 2009 we were called by Dr Georgina Jackson who, having bought a one bedroom apartment in Clare in January 2010. We are asked if we could approximate the compensation to the landlord would be to extend the lease by a further 90 years. Comparative properties in Clare with 100 year plus lease were in the region of £295,000. The average ground rent payable was £45 invoiced per annum. The lease concluded on 5 August 2101. Considering the 75 years outstanding we approximated the compensation to the landlord to extend the lease to be between £8,600 and £9,800 exclusive of fees.

Clare case:

Last Autumn we were called by Dr Y Sánchez , who was assigned a lease of a first floor flat in Clare in April 2004. 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. Comparable homes in Clare with an extended lease were in the region of £250,400. The average ground rent payable was £65 collected per annum. The lease concluded on 21 June 2090. Considering the 64 years left we calculated the premium to the freeholder for the lease extension to be between £19,000 and £22,000 plus fees.