Stop! Your Lease Extension in De Beauvoir Town Could Be FREE

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Many leaseholders in De Beauvoir Town 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 De Beauvoir Town 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.

Top reasons for De Beauvoir Town lease extension

Why you should commence your De Beauvoir Town lease extension today:

A De Beauvoir Town lease depreciates with the years remaining on the lease.

The market value of De Beauvoir Town leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of extending the lease can escalate substantially once the remaining term is less than eighty years

De Beauvoir Town property with a lease extension has roughly the same value as a freehold

Leasehold residencies in De Beauvoir Town with more than one hundred years outstanding on the lease are often regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your property. In such situations there is often little to be gained by buying the freehold unless savings on ground rent and maintenance charges merit it.

Lenders may decide not to loan monies on a short lease

The definition of a short lease depends on the specific mortgage company, yet lending institutions start to get jittery at around 75 years. This may cause difficulties when you wish to market or refinance your flat as it will be effectively unmortgageable. Even though you might not have an immediate plan to sell but when you do your purchaser will need to wait 2 years before they can exercise the right to a an extension to the lease.

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.
Birmingham Midshires Minimum 70 years from the date of the mortgage.
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.
Lloyds TSB Scotland Minimum 70 years from the date of the mortgage.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must be at least 75 years plus the term of the mortgage at the outset of the mortgage.

What makes us experts in De Beauvoir Town lease extensions?

Lease extensions in De Beauvoir Town can be a difficult process. We recommend you get professional help 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 a wealth of experience dealing with De Beauvoir Town lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

De Beauvoir Town Lease Extension Example Cases:

Daniel, De Beauvoir Town, London

Last October Daniel, started to get near to the 80-year mark with the lease on his leasehold apartment in De Beauvoir Town. In buying his home 18 years previously, the lease term was of minimal interest. Thankfully, he recognised he would soon be paying way over the odds for a lease extension. Daniel arranged for a lease extension just ahead of time last August. Daniel and the landlord who owned the flat above in the end agreed on sum of £5,500 . If he not met the deadline, the premium would have escalated by a minimum £1,075.

De Beauvoir Town case:

Mrs Leah Lefebvre acquired a purpose-built apartment in De Beauvoir Town in November 2004. We are asked if we could estimate the price could be for a ninety year lease extension. Identical properties in De Beauvoir Town with a long lease were worth £246,800. The mid-range ground rent payable was £60 collected per annum. The lease concluded in 2076. Having 50 years remaining we calculated the compensation to the freeholder for the lease extension to be within £44,700 and £51,600 not including legals.

Decision in Hackney

An example of a Lease Extension case for a De Beauvoir Town property is 5C Stoke Newington Road in April 2010. the Tribunal therefore concludes that the premium to be paid for the extended lease is £700.00 This case was in relation to 1 flat. The unexpired lease term was 80.5 years.