Stop! Your Lease Extension in Pevensey Could Be FREE

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Many leaseholders in Pevensey 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 Pevensey 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 commence your Pevensey lease extension

Top reasons for lease extension now:

Increase your lease and increase your Pevensey property value

The rule of thumb is, all other things holding equal, the shorter the lease the more expensive the premium. Qualifying leaseholders in Pevensey may extend the lease for a further 90 years under legislation. Please think carefully before delaying your Pevensey lease extension. Putting off the costs now simply increases the price you will ultimately have to pay for a lease extension.

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

It is generally considered that a property with over 100 years unexpired lease term is worth roughly the same as a freehold. Where an additional 90 years added to any lease with more than 45 years remaining, the premises will be equivalent in value to a freehold for many years ahead.

Lending institutions will not lend on a short lease

Most banks have narrowed their lending criteria in recent years and borrowers are finding it increasingly difficult to raise finance or re-mortgage against flats with shorter lease terms, particularly under 75 years as they are regarded as inadequate for lending purposes.

Lender Requirement
Barclays plc
Godiva Mortgages
National Westminster Bank
Nationwide Building Society
TSB

Why use us for your lease extension in Pevensey?

Retaining our service will provide you increased control over the value of your Pevensey leasehold, as your property will be more valuable and saleable in relation to the 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.

Pevensey Lease Extension Example Cases:

Naomi, Pevensey, East Sussex,

Subsequent to lengthy negotiations with the freeholder of her garden apartment in Pevensey, Naomi started the lease extension process as the eighty year deadline was swiftly coming. The lease extension was finalised in October 2008. The landlord’s fees were restricted to about 550 GBP.

Pevensey case:

Last month we were e-mailed by Mr and Mrs. A Phillips , who acquired a studio apartment in Pevensey in April 2012. We are asked if we could estimate the price would be to prolong the lease by a further 90 years. Identical residencies in Pevensey with an extended lease were in the region of £200,800. The average amount of ground rent was £65 invoiced yearly. The lease lapsed on 27 March 2086. Having 60 years left we estimated the premium to the landlord for the lease extension to be between £20,900 and £24,200 not including costs.

Pevensey case:

Ms Jordan Martin took over the lease of a first floor flat in Pevensey in April 2003. The dilemma was if we could approximate the price would likely be for a 90 year extension to my lease. Comparative residencies in Pevensey with an extended lease were worth £255,000. The average amount of ground rent was £50 invoiced per annum. The lease ended in 2097. Considering the 71 years unexpired we calculated the premium to the landlord to extend the lease to be within £9,500 and £11,000 not including costs.