Stop! Your Lease Extension in Kirkwhelpington Could Be FREE

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Many leaseholders in Kirkwhelpington 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 Kirkwhelpington 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 Kirkwhelpington lease extension

Top reasons for lease extension now:

A Kirkwhelpington leasehold property depreciates with the years remaining on the lease.

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

Kirkwhelpington property with a lease extension is almost the same value as a freehold

It is generally considered that a property with more than 100 years remaining is worth approximately the equivalent as a freehold. Where an additional ninety years added to any lease with more than 45 years left, the property will be worth the same as a freehold for decades to come.

Banks and Building Societies may decide not to grant a mortgage on a short lease

Banks and Building Societies are less likely to give a loan offer on a residential property in Kirkwhelpington with a short lease. Some lenders simply refuse a mortgage on leases with below 75 years left.

Lender Requirement
Chelsea Building Society
Halifax
Santander
The Mortgage Works
Yorkshire Building Society

Why use us for your lease extension in Kirkwhelpington?

Regardless of whether you are a tenant or a freeholder in Kirkwhelpington,the lease extension experts that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Kirkwhelpington valuers.

Kirkwhelpington Lease Extension Example Cases:

Melissa, Kirkwhelpington, Northumberland,

Following lengthy discussions with the freeholder of her purpose-built flat in Kirkwhelpington, Melissa commenced the lease extension process as the eighty year mark was quickly nearing. The transaction completed in April 2008. The freeholder’s fees were kept to an absolute minimum.

Kirkwhelpington case:

In 2013 we were contacted by Mr H Mercier who, having owned a first floor flat in Kirkwhelpington in November 1995. We are asked if we could estimate the premium could be to prolong the lease by ninety years. Comparative premises in Kirkwhelpington with a long lease were in the region of £173,800. The average amount of ground rent was £60 invoiced annually. The lease finished on 25 March 2081. Given that there were 55 years outstanding we estimated the premium to the freeholder to extend the lease to be between £31,400 and £36,200 exclusive of expenses.

Kirkwhelpington case:

Ms Isobel White moved into a first floor flat in Kirkwhelpington in June 2000. The dilemma was if we could shed any light on how much (roughly) price would likely be to prolong the lease by a further 90 years. Comparable premises in Kirkwhelpington with a long lease were worth £235,200. The mid-range amount of ground rent was £45 billed monthly. The lease came to a finish in 2092. Having 66 years remaining we approximated the compensation to the freeholder for the lease extension to be within £12,400 and £14,200 not including fees.