Stop! Your Lease Extension in Goodrich Could Be FREE

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Many leaseholders in Goodrich 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 Goodrich 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 Goodrich lease extension

Top reasons for lease extension now:

Increase your lease and increase your Goodrich property value

Goodrich residential property owned on a long lease is a depreciating asset as the leaseholder only owns the property for a set term.

Goodrich property with a lease extension has roughly the same value as a freehold

Leasehold premises in Goodrich with in excess of one hundred years unexpired on the lease are often referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such circumstances there is often little upside in purchasing the freehold unless savings on ground rent and estate charges justify it.

Banks and Building Societies will not finance a property on a short lease

Banks and building societies differ in their lending criteria. Some draw the line at seventy five years outstanding on the lease; others may be happy with anything in excess 70 years. Below 60 years, it may be difficult to get a mortgage in the first place.

Lender Requirement
Accord Mortgages
Bank of Scotland
Chelsea Building Society
National Westminster Bank
Yorkshire Building Society

What makes us experts in Goodrich lease extensions?

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

Goodrich Lease Extension Case Summaries:

Chantelle, Goodrich, Herefordshire,

Following unsuccessful discussions with the freeholder of her purpose-built flat in Goodrich, Chantelle started the lease extension process just as her lease was approaching the critical eighty-year threshold. The transaction was concluded in May 2010. The landlord’s fees were kept to an absolute minimum.

Goodrich case:

In 2012 we were approached by Dr B Brooks who, having bought a basement apartment in Goodrich in September 2010. We are asked if we could estimate the price could be for a 90 year lease extension. Comparative flats in Goodrich with 100 year plus lease were worth £270,000. The average amount of ground rent was £65 invoiced annually. The lease concluded in 2094. Considering the 68 years as a residual term we calculated the compensation to the landlord for the lease extension to be between £12,400 and £14,200 plus expenses.

Goodrich case:

Last Winter we were contacted by Mr and Mrs. J Hall , who purchased a purpose-built apartment in Goodrich in September 2000. The question was if we could approximate the premium could be to prolong the lease by a further 90 years. Comparative residencies in Goodrich with a long lease were valued around £208,600. The average ground rent payable was £60 invoiced yearly. The lease came to a finish on 5 May 2083. Having 57 years unexpired we calculated the compensation to the landlord for the lease extension to be within £30,400 and £35,200 plus fees.