Stop! Your Lease Extension in Leyton Could Be FREE

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Many leaseholders in Leyton 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 Leyton 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 commence your Leyton lease extension

Main reasons to commence your Leyton lease extension today:

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

On the balance of probabilities where you own a flat in Leyton 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 100 years unexpired lease term is worth roughly the same as a freehold. Where an further 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.

Lending institutions may decide not to grant a mortgage with a short lease

Most banks and building societies will be unwilling to grant a mortgage on a lease with less than seventy years unexpired - although this varies from lender to lender. A buyer will undoubtedly find it difficult to obtain a mortgage and this could result in your Leyton property being difficult to dispose of or to obtain finance 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.
Coventry Building Society 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.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
Royal Bank of Scotland Mortgage term plus 30 years.
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 Leyton?

Lease extensions in Leyton can be a difficult process. We recommend you procure professional help from a lawyer and surveyor with experience in lease extensions.

We provide you with an expert from a selection of lease extension solicitors, which ensures a targeted and efficient service as you have a dedicated port of call with an individual lawyer. Our lease extension solicitors have in-depth market knowledge dealing with Leyton lease extensions and further afield, as well as any potential issues which may arise as well as problems with the Leasehold Valuation Tribunal.

Leyton Lease Extension Example Cases:

Theo, Leyton, North East London,

Theo was the the leasehold owner of a 2 bedroom apartment in Leyton being sold with a lease of a few days over fifty eight years outstanding. Theo informally approached his freeholder a well known local-based freehold company and enquired on a premium to extend the lease. The landlord was prepared to grant an extension on non-statutory terms taking the lease to 125 years on the basis of an increased rent to £100 per annum. Ordinarily, ground rent would not be payable on a lease extension were Theo to invoke his statutory right. Theo procured expert legal guidance and was able to make an informed decision and handle with the matter and readily saleable.

Leyton case:

Last Winter we were contacted by Dr U Wilson , who acquired a first floor flat in Leyton in June 2009. The question was if we could approximate the price would likely be to extend the lease by an additional years. Comparative flats in Leyton with a long lease were in the region of £280,000. The mid-range ground rent payable was £45 invoiced monthly. The lease came to a finish in 2096. Having 70 years remaining we approximated the compensation to the landlord for the lease extension to be within £12,400 and £14,200 exclusive of fees.

Decision in Waltham Forest

An example of a Freehold Enfranchisement case for a Leyton flat is 12 Nutfield Road in July 2014. the Tribunal judged that the price to be paid by the applicants for the freehold interest should be £19,572 This case related to 2 flats. The unexpired term was 72.02 years.