Stop! Your Lease Extension in Dingle Could Be FREE

Get a Free Case Review
Many leaseholders in 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 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.

Top reasons for Dingle lease extension

Main reasons to commence your Dingle lease extension today:

Increase your lease and increase your Dingle property value

For those whose Dingle home is held on a long lease, our message is clear – if nothing is done, your property will eventually revert to the freeholder, leaving you empty-handed. The shorter the lease the less it is worth and the more expensive it will be to extend the lease.

An extended lease has roughly the same value as a freehold

It is generally accepted that a property with over 100 years unexpired lease term is worth approximately the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, the property will be equivalent in value to a freehold for many years ahead.

Banks and Building Societies may decide not to loan monies on a short lease

Almost all mortgage lenders insist on a lengthy amount of time left on any leasehold property before they will contemplate it as adequate security. Even if you don't need a mortgage, you should bear in mind that it is reasonable to assume that someone wanting to buy your property in the future might well do, so in the event that they can't get a mortgage, then the value of your property could be adversely impacted. In the last decade the majority of banks and building societies have increased the required minimum lease length that they are prepared to grant a mortgage on

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.
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.
Halifax 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 30 years plus the term of the mortgage at the outset of the mortgage.
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 Dingle?

Regardless of whether you are a tenant or a landlord in Dingle,the lease extension lawyers 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 Dingle valuers.

Dingle Lease Extension Example Cases:

Emma, Dingle, Merseyside,

After lengthy discussions with the freeholder of her basement apartment in Dingle, Emma commenced the lease extension process just as the lease was nearing the crucial eighty-year deadline. The transaction completed in April 2009. The landlord’s costs were negotiated to a tad over five hundred GBP.

Dingle case:

In 2013 we were contacted by Dr A Simon who, having took over the lease of a studio flat in Dingle in February 2009. The dilemma was if we could shed any light on how much (roughly) compensation to the landlord would likely be for a 90 year lease extension. Comparative residencies in Dingle with an extended lease were worth £210,600. The mid-range ground rent payable was £45 invoiced annually. The lease ran out on 21 September 2088. Considering the 62 years left we estimated the compensation to the landlord for the lease extension to be between £18,100 and £20,800 not including legals.

Dingle case:

Last Autumn we were contacted by Mr and Mrs. A Cooper , who purchased a basement flat in Dingle in June 2002. The dilemma was if we could approximate the price would be to prolong the lease by ninety years. Similar premises in Dingle with an extended lease were worth £265,000. The average ground rent payable was £50 collected monthly. The lease came to a finish on 25 February 2099. Having 73 years unexpired we approximated the premium to the landlord to extend the lease to be within £9,500 and £11,000 plus expenses.