Why you should commence your Llantrisant lease extension

Main reasons to start your Llantrisant lease extension today:

Increase your lease and increase your Llantrisant property value

Chances are that if you own a flat in Llantrisant you actually own a long leasehold interest over your property

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

Leasehold properties in Llantrisant with in excess of one hundred years unexpired on the lease are often regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your premises. In such situations there is often little upside in purchasing the freehold unless savings on ground rent and maintenance charges justify it.

Banks and Building Societies will not finance a property with a short lease

Most mortgage lenders will not grant a mortgage on a lease with under seventy years left to run - although this varies between mortgage companies. A buyer will no doubt encounter difficulties to obtain a mortgage and this will result in your Llantrisant property being difficult to dispose of or to obtain finance on.

Why use us for your lease extension in Llantrisant?

Using our service gives you enhanced control over the value of your Llantrisant leasehold, as your property will be more valuable and saleable in terms of lease length should you decide to sell. The conveyancers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Llantrisant Lease Extension Case Studies:

Finn, Llantrisant, Rhondda Cynon Taff,

Finn owned a studio apartment in Llantrisant being sold with a lease of just over 61 years unexpired. Finn informally contacted his freeholder being a well known London-based freehold company for a lease extension. The landlord was keen to give an extension on non-statutory terms taking the lease to 125 years on the basis of a rise in the rent to £100 annually. No ground rent would be payable on a lease extension were Finn to invoke his statutory right. Finn obtained expert legal guidance and secured an acceptable resolution informally and sell the property.

Llantrisant case:

Last Autumn we were phoned by Dr P Rose , who purchased a ground floor flat in Llantrisant in May 2002. The dilemma was if we could shed any light on how much (approximately) premium could be to prolong the lease by an additional years. Identical flats in Llantrisant with an extended lease were worth £208,600. The mid-range amount of ground rent was £60 invoiced quarterly. The lease came to a finish on 10 September 2083. Considering the 57 years left we estimated the compensation to the freeholder to extend the lease to be within £30,400 and £35,200 exclusive of professional charges.

Llantrisant case:

In 2011 we were contacted by Mr Nathaniel Brooks who, having completed a studio apartment in Llantrisant in May 2001. The question was if we could shed any light on how much (approximately) compensation to the landlord would likely be for a 90 year extension to my lease. Comparative homes in Llantrisant with an extended lease were worth £200,000. The mid-range amount of ground rent was £50 billed yearly. The lease terminated in 2103. Having 77 years as a residual term we calculated the premium to the landlord for the lease extension to be within £8,600 and £9,800 plus costs.