Stop! Your Lease Extension in Coombe Dingle Could Be FREE

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Many leaseholders in Coombe Dingle 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 Coombe Dingle 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 Coombe Dingle lease extension

Why you should start your Coombe Dingle lease extension today:

Increase your lease and increase your Coombe Dingle property value

On the balance of probabilities if you own a flat in Coombe Dingle you actually own a long leasehold interest over your property

An extended lease is almost the same value as a freehold

Leasehold premises in Coombe Dingle with in excess of 100 years left on the lease are sometimes referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your premises. In such situations there is often little upside in purchasing the freehold unless savings on ground rent and maintenance charges warrant it.

Mortgage lenders may decide not to loan monies with a short lease

The definition of a short lease depends on the specific mortgage company, yet mortgage lenders start to become nervous at around 75 years. This will be problematic once you need to sell or remortgage your flat as it will be effectively unmortgageable. Even though you may have no imminent plan to sell but when you do your purchaser must hold off for 2 years before being able to commence the legal procedures for a lease extension.

Lender Requirement
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
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.
Godiva Mortgages 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.
Leeds Building Society 85 years remaining from the start of the mortgage.
Royal Bank of Scotland Mortgage term plus 30 years.

Why use us for your lease extension in Coombe Dingle?

Using our service will provide you better control over the value of your Coombe Dingle leasehold, as your property will be more valuable and saleable in relation to the lease length should you decide to sell. The lawyers that we work with have a wealth of experience of handling many hundreds of lease extensions or freehold purchase transactions.

Coombe Dingle Lease Extension Example Cases:

Elizabeth, Coombe Dingle, Bristol,

In the wake of 6 months of lengthy negotiations with the landlord of her one bedroom flat in Coombe Dingle, Elizabeth started the lease extension process as the eighty year threshold was rapidly approaching. The transaction was finalised in October 2011. The freeholder’s fees were kept to an absolute minimum.

Coombe Dingle case:

In 2014 we were phoned by Mr and Mrs. K Vincent who, having moved into a one bedroom apartment in Coombe Dingle in March 1999. We are asked if we could shed any light on how much (approximately) compensation to the landlord would be to extend the lease by an additional years. Comparative flats in Coombe Dingle with an extended lease were worth £300,000. The average ground rent payable was £50 invoiced annually. The lease termination date was on 21 May 2102. Having 76 years as a residual term we estimated the premium to the freeholder for the lease extension to be between £8,600 and £9,800 not including costs.

Coombe Dingle case:

Last Christmas we were e-mailed by Mrs I Harris , who completed a basement flat in Coombe Dingle in August 1999. The question was if we could estimate the price would likely be to extend the lease by an additional years. Identical flats in Coombe Dingle with an extended lease were in the region of £257,800. The mid-range ground rent payable was £65 invoiced per annum. The lease lapsed in 2091. Considering the 65 years as a residual term we approximated the compensation to the freeholder for the lease extension to be within £18,100 and £20,800 plus professional charges.