Stop! Your Lease Extension in Malden Could Be FREE

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Many leaseholders in Malden 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 Malden 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 start your Malden lease extension

Why you should start your Malden lease extension today:

Increase your lease and increase your Malden property value

The only way is down when it comes to Malden lease terms. Malden flats that have a lease term lower than eighty years will drop in market price even faster, and the cost of extending your lease will go up.

Malden property with a lease extension is almost the same value as a freehold

It is generally accepted 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 all but the shortest lease, the residence will be equivalent in value to a freehold for decades to come.

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

Banks and building societies vary in their lending criteria. Some draw the line at seventy five years remaining on the lease; others may be content with anything with more than seventy years. Below 60 years, it may be impossible to get a mortgage at all.

Lender Requirement
Accord Mortgages
Barclays plc
Birmingham Midshires
The Mortgage Works
Virgin

Why use us for your lease extension in Malden?

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

Malden Lease Extension Case Summaries:

Eliot, Malden, South West London,

Eliot owned a high value apartment in Malden on the market with a lease of just over 72 years left. Eliot informally spoke with his freeholder a well known Manchester-based freehold company and enquired on a premium to extend the lease. The freeholder was keen to grant an extension on non-statutory terms taking the lease to 125 years on the basis of a rise in the rent to £100 yearly. No ground rent would be due on a lease extension were Eliot to invoke his statutory right. Eliot obtained expert legal guidance and was able to make an informed decision and handle with the matter and sell the property.

Malden case:

Mr and Mrs. L Moore took over the lease of a newly refurbished apartment in Malden in October 2006. We are asked if we could estimate the compensation to the landlord would be for a 90 year extension to my lease. Similar flats in Malden with a long lease were valued around £173,800. The average amount of ground rent was £65 billed quarterly. The lease finished on 10 February 2081. Given that there were 55 years outstanding we approximated the premium to the freeholder to extend the lease to be within £31,400 and £36,200 not including fees.

Decision in Wandsworth

An example of a Freehold Enfranchisement decision for a Malden premises is 158 West Hill in November 2010. the Tribunal held that the premium to be paid for the freehold reversion should be £99,650 This case related to 7 flats. The number of years remaining on the existing lease(s) was 75.88 years.