Stop! Your Lease Extension in Heath Hayes Could Be FREE

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Many leaseholders in Heath Hayes 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 Heath Hayes 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 Heath Hayes lease extension

Main reasons to start your Heath Hayes lease extension today:

A Heath Hayes lease depreciates with the years remaining on the lease.

Chances are that where you own a flat in Heath Hayes you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

Leasehold residencies in Heath Hayes with more than one hundred years left on the lease are sometimes regarded as a ‘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 buying the freehold unless savings on ground rent and maintenance charges warrant it.

Lenders may decide not to finance a property with a short lease

Banks and building societies are really clamping down as regards to homes in Heath Hayes with short leases. For example you may find that their lending criteria are stricter and that they adjust interest rates depending on how many years are left on the lease. Some may even refrain from lending completely, so if you wanted to sell, your remaining options would be to find a cash buyer, or try your luck at auction thus reducing the amount of prospective purchasers.

Lender Requirement
Barnsley Building Society
Godiva Mortgages
Halifax
The Mortgage Works
Yorkshire Building Society

Why use us for your lease extension in Heath Hayes?

Regardless of whether you are a tenant or a landlord in Heath Hayes,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 Heath Hayes valuers.

Heath Hayes Lease Extension Example Cases:

Sophia, Heath Hayes, Staffordshire,

After protracted discussions with the landlord of her one bedroom apartment in Heath Hayes, Sophia commenced the lease extension process just as her lease was nearing the critical 80-year threshold. The legal work was finalised in July 2011. The landlord’s charges were restricted to less than 600 GBP.

Heath Hayes case:

Mr and Mrs. Y Turner owned a basement flat in Heath Hayes in June 1998. We are asked if we could approximate the price would be to extend the lease by an additional years. Comparable properties in Heath Hayes with a long lease were valued about £200,000. The mid-range amount of ground rent was £50 collected annually. The lease ended on 12 October 2104. Having 78 years left we estimated the premium to the landlord to extend the lease to be within £8,600 and £9,800 plus legals.

Heath Hayes case:

In 2013 we were called by Dr C Rivera who, having purchased a one bedroom flat in Heath Hayes in July 2004. The dilemma was if we could approximate the compensation to the landlord could be to extend the lease by ninety years. Comparative homes in Heath Hayes with 100 year plus lease were valued around £267,600. The mid-range ground rent payable was £65 collected per annum. The lease elapsed on 12 February 2093. Having 67 years unexpired we approximated the premium to the landlord to extend the lease to be between £14,300 and £16,400 plus expenses.