Stop! Your Lease Extension in Radcliffe on Trent Could Be FREE

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Many leaseholders in Radcliffe on Trent 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 Radcliffe on Trent 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.

Top reasons for Radcliffe on Trent lease extension

Main reasons to commence your Radcliffe on Trent lease extension today:

Increase your lease and increase your Radcliffe on Trent property value

Radcliffe on Trent residential property held on a long lease is a wasting asset because a leaseholder merely owns the property for a period of years.

Radcliffe on Trent property with a lease extension has roughly the same value as a freehold

It is conventional wisdom that a property with more than 100 years remaining is worth roughly the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, the residence will be worth the same as a freehold for many years in the future.

Lending institutions will not grant a mortgage with a short lease

Mortgage lenders are less likely to grant a mortgage on a domestic flat in Radcliffe on Trent with a short lease. Many lenders simply refuse a mortgage on leases with below 75 years remaining.

Lender Requirement
Bank of Scotland
Coventry Building Society
Leeds Building Society
TSB
Virgin

What makes us experts in Radcliffe on Trent lease extensions?

The conveyancing solicitors that we work with undertake Radcliffe on Trent 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 conveyancing solicitor we work with provide it.

Radcliffe on Trent Lease Extension Example Cases:

Georgina, Radcliffe on Trent, Nottinghamshire,

Trailing unsuccessful negotiations with the freeholder of her studio flat in Radcliffe on Trent, Georgina initiated the lease extension process as the 80 year deadline was rapidly advancing. The transaction was concluded in May 2009. The freeholder’s costs were restricted to under 650 pounds.

Radcliffe on Trent case:

In 2013 we were phoned by Mr U Hill who, having moved into a studio apartment in Radcliffe on Trent in September 2004. We are asked if we could estimate the compensation to the landlord would be to prolong the lease by 90 years. Comparative residencies in Radcliffe on Trent with a long lease were valued about £210,600. The average amount of ground rent was £45 invoiced per annum. The lease termination date was on 19 October 2088. Considering the 62 years remaining we calculated the premium to the landlord for the lease extension to be within £18,100 and £20,800 not including legals.

Radcliffe on Trent case:

Dr Alexander Wright bought a purpose-built flat in Radcliffe on Trent in March 2012. We are asked if we could estimate the premium would be for a ninety year lease extension. Identical premises in Radcliffe on Trent with an extended lease were valued around £260,000. The mid-range ground rent payable was £50 invoiced yearly. The lease end date was in 2099. Considering the 73 years remaining we calculated the compensation to the freeholder for the lease extension to be between £9,500 and £11,000 not including professional charges.