Stop! Your Lease Extension in Little Burstead Could Be FREE

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Many leaseholders in Little Burstead 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 Little Burstead 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 Little Burstead lease extension

Why you should commence your Little Burstead lease extension today:

A Little Burstead lease depreciates with the years remaining on the lease.

The value of Little Burstead leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of a lease extension can escalate significantly once the remaining term is less than 80 years

An extended lease is almost the same value as a freehold

It is conventional wisdom that a property with more than 100 years remaining is worth roughly the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, the property will be equivalent in value to a freehold for many years in the future.

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

Most banks and building societies require a lengthy amount of time left on a leasehold residence before they will contemplate lending on it. Regardless of whether you need a mortgage, you should be conscious that it is probable that someone intending to buy your property in the future might well do, so in the event that they can't obtain a mortgage, then the value of the property will likely suffer. Since 2008 most banks and building societies have increased the required minimum lease length that they are prepared to accept

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.
Leeds Building Society 85 years remaining from the start of the mortgage.
Skipton Building Society 85 years from the date of completion of the mortgage

For Buy to Let cases:
- lettings must not breach any of the lessee’s covenants; and
- consent of the lessor to lettings must be obtained if necessary
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
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 Little Burstead?

Retaining our service gives you enhanced control over the value of your Little Burstead leasehold, as your property will be more valuable and marketable in terms of lease length should you wish to sell. The conveyancers that we work with have a in-depth market knowledge handling many hundreds of lease extensions or freehold purchase transactions.

Little Burstead Lease Extension Case Studies:

Ellie, Little Burstead, Essex,

Following protracted discussions with the freeholder of her studio apartment in Little Burstead, Ellie started the lease extension process just as the lease was coming close to the all-important eighty-year threshold. The lease extension was concluded in July 2007. The landlord’s charges were negotiated to slightly above 700 pounds.

Little Burstead case:

Last April we were e-mailed by Mrs I Ricardo , who was assigned a lease of a one bedroom apartment in Little Burstead in January 1995. We are asked if we could estimate the premium would likely be to prolong the lease by a further 90 years. Comparable residencies in Little Burstead with 100 year plus lease were in the region of £300,000. The average ground rent payable was £50 collected per annum. The lease came to a finish on 23 July 2102. Given that there were 76 years unexpired we estimated the compensation to the freeholder for the lease extension to be between £8,600 and £9,800 plus expenses.

Little Burstead case:

In 2011 we were phoned by Mr and Mrs. N Scott who, having bought a purpose-built flat in Little Burstead in February 2008. The question was if we could approximate the premium would likely be to extend the lease by a further 90 years. Identical homes in Little Burstead with 100 year plus lease were valued about £252,800. The mid-range amount of ground rent was £65 billed monthly. The lease ended on 20 February 2091. Considering the 65 years unexpired we estimated the premium to the freeholder for the lease extension to be between £18,100 and £20,800 plus costs.