Stop! Your Lease Extension in Datchet and Langley Could Be FREE

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Many leaseholders in Datchet and Langley 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 Datchet and Langley 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 Datchet and Langley lease extension

Why you should commence your Datchet and Langley lease extension today:

A Datchet and Langley leasehold property depreciates with the years remaining on the lease.

For those whose Datchet and Langley flat is held on a long lease, our message is clear – if no remedial action is taken, your property will eventually revert to the freeholder, leaving you empty-handed. The fewer the years remaining the lower the value of the property and the more it will cost to procure a lease extension.

Datchet and Langley property with a lease extension is almost the same value as a freehold

It is generally considered that a property with in excess of one hundred years remaining is worth approximately the same as a freehold. Where an further ninety years added to any lease with more than 45 years left, the residence will be equivalent in value to a freehold for many years ahead.

Banks and Building Societies will not lend on a short lease

The trend since 2008 has been for mortgage companies to tighten lending criteria across the board - this has extended to the types of security over which the home loan is to be granted. This has meant the minimum number of years remaining under the lease required by lenders has increased. In the past banks were content with 25 years plus the term of the loan - typically 50 year leases but those requirements have been chipped away by the requirement for longer and longer leases - many now have a minimum term of 75 years as a prerequisite.

Lender Requirement
Accord Mortgages 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.
Leeds Building Society 85 years remaining from the start of the mortgage.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must be at least 30 years plus the term of the mortgage at the outset of the mortgage.
Royal Bank of Scotland Mortgage term plus 30 years.
Yorkshire 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.

Why use us for your lease extension in Datchet and Langley?

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

Datchet and Langley Lease Extension Case Studies:

Isabel, Datchet and Langley, Berkshire,

Off the back of protracted negotiations with the freeholder of her one bedroom apartment in Datchet and Langley, Isabel initiated the lease extension process just as the lease was approaching the crucial 80-year deadline. The transaction was concluded in November 2015. The landlord’s fees were negotiated to a tad over 700 pounds.

Datchet and Langley case:

Last year we were phoned by Mr Jake Michel , who bought a purpose-built flat in Datchet and Langley in March 2009. We are asked if we could shed any light on how much (approximately) price would be to prolong the lease by a further 90 years. Similar premises in Datchet and Langley with a long lease were worth £270,000. The mid-range amount of ground rent was £55 billed annually. The lease came to a finish in 2101. Taking into account 75 years unexpired we estimated the premium to the freeholder for the lease extension to be between £9,500 and £11,000 not including professional charges.

Decision in Hillingdon

An example of a Freehold Enfranchisement decision for a Datchet and Langley flat is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case was in relation to 2 flats. The unexpired lease term was 69 years.