Stop! Your Lease Extension in Liphook Could Be FREE

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Many leaseholders in Liphook 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 Liphook 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.

Why you should commence your Liphook lease extension

Why you should commence your Liphook lease extension today:

Increase your lease and increase your Liphook property value

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

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

It is generally accepted that a residential leasehold with in excess of one hundred years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to all but the shortest lease, the premises will be equivalent in value to a freehold for many years in the future.

Banks and Building Societies may not grant a mortgage with a short lease

Banks and building societies are really restricting their approach as regards to properties in Liphook with short leases. For instance you may find that their lending requirements 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 needed to sell, your remaining options would be to find a cash purchaser, or hope for the best at auction thus restricting the number of prospective buyers.

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.
Bank of Scotland Minimum 70 years from the date of the mortgage.
Chelsea 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.
Leeds Building Society 85 years remaining from the start of the mortgage.
Virgin 85 years at the time of completion. If it's less, we require it to be extended on or before completion.

What makes us experts in Liphook lease extensions?

Irrespective of whether you are a tenant or a landlord in Liphook,the lease extension solicitors 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 Liphook valuers.

Liphook Lease Extension Case Studies:

Thomas, Liphook, Hampshire,

Thomas was the the leasehold proprietor of a studio apartment in Liphook on the market with a lease of just over 59 years remaining. Thomas on an informal basis contacted his landlord a well known Bristol-based freehold company and enquired on a premium to extend the lease. The landlord indicated a willingness to grant an extension taking the lease to 125 years subject to a new rent at the outset set at £150 per annum and doubled every twenty five years thereafter. No ground rent would be due on a lease extension were Thomas to exercise his statutory right. Thomas obtained expert legal guidance and was able to make an informed judgement and deal with the matter and sell the property.

Liphook case:

Last year we were e-mailed by Mr and Mrs. W Rose , who completed a purpose-built apartment in Liphook in May 2008. We are asked if we could approximate the price could be to prolong the lease by an additional years. Similar homes in Liphook with 100 year plus lease were worth £205,000. The mid-range amount of ground rent was £50 billed annually. The lease expiry date was on 5 October 2105. Having 79 years as a residual term we calculated the compensation to the landlord to extend the lease to be between £8,600 and £9,800 not including legals.

Liphook case:

In 2011 we were phoned by Dr Isaac Thomas who, having moved into a ground floor flat in Liphook in September 2012. We are asked if we could approximate the premium could be for a 90 year extension to my lease. Comparable premises in Liphook with a long lease were in the region of £275,000. The mid-range ground rent payable was £65 billed monthly. The lease ran out on 9 March 2094. Given that there were 68 years left we estimated the compensation to the landlord to extend the lease to be within £12,400 and £14,200 not including legals.