Stop! Your Lease Extension in Norris Green Could Be FREE

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Many leaseholders in Norris Green 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 Norris Green 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 start your Norris Green lease extension

Why you should commence your Norris Green lease extension today:

Increase your lease and increase your Norris Green property value

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

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

It is generally accepted that a residential leasehold with over 100 years remaining is worth approximately the same as a freehold. Where an further ninety years added to all but the shortest lease, the property will be worth the same as a freehold for many years ahead.

Lending institutions may decide not to grant a mortgage on a short lease

Mortgage Lenders vary in their lending criteria. Some set the bar at 75 years remaining on the lease; others may be content with anything in excess seventy years. With less than 60 years, it may be challenging to obtain a mortgage in the first place.

Lender Requirement
Accord Mortgages
Barclays plc
Nationwide Building Society
Santander
Yorkshire Building Society

Why use us for your lease extension in Norris Green?

Regardless of whether you are a tenant or a freeholder in Norris Green,the lease extension lawyers that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Norris Green valuers.

Norris Green Lease Extension Case Summaries:

Naomi, Norris Green, Merseyside,

In the wake of eight months of protracted correspondence with the landlord of her basement flat in Norris Green, Naomi started the lease extension process just as her lease was approaching the all-important 80-year deadline. The transaction was concluded in January 2010. The landlord’s costs were restricted to under 650 pounds.

Norris Green case:

Dr Milo Taylor bought a first floor apartment in Norris Green in September 1998. We are asked if we could estimate the premium could be for a ninety year extension to my lease. Comparable premises in Norris Green with 100 year plus lease were valued around £295,000. The average ground rent payable was £45 collected per annum. The lease ended in 2100. Having 74 years unexpired we approximated the premium to the landlord for the lease extension to be between £8,600 and £9,800 plus fees.

Norris Green case:

Last year we were e-mailed by Mr and Mrs. E Lewis , who took over the lease of a one bedroom flat in Norris Green in September 1997. We are asked if we could shed any light on how much (roughly) premium could be to extend the lease by an additional years. Similar homes in Norris Green with 100 year plus lease were in the region of £243,000. The mid-range ground rent payable was £65 invoiced every twelve months. The lease terminated on 10 August 2089. Taking into account 63 years left we approximated the compensation to the freeholder for the lease extension to be between £20,000 and £23,000 plus professional charges.