Stop! Your Lease Extension in East Harling Could Be FREE

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Many leaseholders in East Harling 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 East Harling 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 East Harling lease extension

Main reasons to start your East Harling lease extension today:

Increase your lease and increase your East Harling property value

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

An extended lease is almost the same value as a freehold

It is conventional wisdom that a property with over one hundred years remaining is worth roughly the same as a freehold. Where an further ninety years added to any lease with more than 30 years unexpired, the premises will be worth the same as a freehold for many years ahead.

Banks and Building Societies will not loan monies on a short lease

Banks and building societies are distinct in their lending requirements. Some draw the line at 75 years remaining on the lease; others may be happy with anything with more than 70 years. With less than sixty years, it may be impossible to get a mortgage at all.

Lender Requirement
Barclays plc
Barnsley Building Society
Birmingham Midshires
Godiva Mortgages
TSB

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

The conveyancing solicitors that we work with procure East Harling lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancing solicitor we work with provide it.

East Harling Lease Extension Example Cases:

Eliot, East Harling, Norfolk

Last October Eliot, came seriously close to the 80-year threshold with the lease on his studio flat in East Harling. In buying his home two decades ago, the unexpired term was of minimal interest. Thankfully, he realised he would imminently be paying an inflated amount for a lease extension. Eliot extended the lease just under the wire in June. Eliot and the landlord ultimately agreed on an amount of £5,500 . If the lease had dropped lower than 80 years, the figure would have increased by at least £1,125.

East Harling case:

Ms K Gray acquired a studio flat in East Harling in May 2010. We are asked if we could estimate the premium would be to prolong the lease by 90 years. Comparative residencies in East Harling with an extended lease were worth £254,200. The average ground rent payable was £60 invoiced annually. The lease finished on 21 February 2077. Having 51 years left we calculated the premium to the landlord for the lease extension to be between £43,700 and £50,600 plus costs.

East Harling case:

In 2011 we were approached by Dr I Moore who, having acquired a ground floor apartment in East Harling in November 1999. We are asked if we could estimate the premium could be to extend the lease by 90 years. Comparative properties in East Harling with a long lease were worth £215,600. The mid-range amount of ground rent was £45 billed every twelve months. The lease ran out in 2088. Considering the 62 years unexpired we approximated the compensation to the freeholder for the lease extension to be between £18,100 and £20,800 exclusive of legals.