Main reasons to start your Llanbradach lease extension

Why you should start your Llanbradach lease extension today:

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

The only way is down when it comes to Llanbradach lease terms. Llanbradach flats that have a lease term less than than 80 years will de-escalate in market price at a rapid rate, and the cost of extending your lease will increase.

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

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

Mortgage lenders may not grant a mortgage with a short lease

Most banks and building societies will not lend on a lease with under 70 years left to run - although this varies from lender to lender. A purchaser will no doubt find it difficult to obtain a mortgage and this will result in your Llanbradach property becoming difficult to sell or refinance.

Why use us for your lease extension in Llanbradach?

The lawyers that we work with procure Llanbradach lease extensions and help protect your position. A lease extension can be arranged to be completed to coincide with a change of ownership so the costs of the lease extension are paid for using part of the sale proceeds. You really do need expert legal advice in this difficult and technical area of law. The conveyancer we work with provide it.

Llanbradach Lease Extension Example Cases:

Holly, Llanbradach, Caerphilly,

After lengthy discussions with the freeholder of her two bedroom apartment in Llanbradach, Holly initiated the lease extension process just as her lease was coming close to the critical 80-year deadline. The lease extension was finalised in April 2015. The freeholder’s fees were kept to an absolute minimum.

Llanbradach case:

In 2010 we were approached by Mr and Mrs. M Gunderson who, having acquired a purpose-built flat in Llanbradach in August 2011. We are asked if we could shed any light on how much (roughly) price would be for a ninety year lease extension. Comparative properties in Llanbradach with 100 year plus lease were worth £225,400. The average amount of ground rent was £45 invoiced yearly. The lease ended in 2090. Having 64 years remaining we approximated the compensation to the freeholder for the lease extension to be between £15,200 and £17,600 plus expenses.

Llanbradach case:

In 2012 we were called by Mr and Mrs. P Harris who, having moved into a garden apartment in Llanbradach in January 2002. We are asked if we could shed any light on how much (roughly) price would be to extend the lease by ninety years. Comparative premises in Llanbradach with a long lease were in the region of £270,000. The average amount of ground rent was £55 invoiced annually. The lease ran out on 6 June 2101. Given that there were 75 years remaining we calculated the compensation to the landlord for the lease extension to be within £9,500 and £11,000 exclusive of expenses.