Stop! Your Lease Extension in Roath Could Be FREE

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Many leaseholders in Roath 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 Roath 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 Roath lease extension

Top reasons for lease extension now:

A Roath lease depreciates with the years remaining on the lease.

The market value of Roath leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The expense of extending the lease can escalate significantly once the remaining term is less than 80 years

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

It is generally accepted that a property with in excess of one hundred years unexpired lease term is worth roughly the same as a freehold. Where an additional 90 years added to all but the shortest lease, the property will be worth the same as a freehold for many years ahead.

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

Nearly all banks and building societies require a lengthy amount of time left on any leasehold residence before they will consider it as adequate security. Even if you don't require a mortgage, you should bear in mind that it is reasonable to assume that someone intending to buy your property in the future might well do, so if they can't secure a mortgage, then the value of your property could be adversely impacted. In the last decade most banks and building societies have increased the required minimum lease length that they are willing to accept

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Barnsley Building Society 60 years from the date of the mortgage application subject to 35 years remaining at the end of the mortgage term.
Chelsea Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
Halifax Minimum 70 years from the date of the mortgage.
Yorkshire Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.

Why use us for your lease extension in Roath?

Regardless of whether you are a tenant or a freeholder in Roath,the lease extension experts that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Roath valuers.

Roath Lease Extension Example Cases:

Freya, Roath, Cardiff,

Off the back of protracted discussions with the landlord of her purpose-built flat in Roath, Freya initiated the lease extension process just as her lease was approaching the crucial eighty-year deadline. The lease extension completed in April 2015. The landlord’s charges were kept to an absolute minimum.

Roath case:

Mrs H Clark owned a newly refurbished apartment in Roath in April 1997. The dilemma was if we could approximate the price would likely be for a ninety year extension to my lease. Comparable properties in Roath with 100 year plus lease were in the region of £189,000. The mid-range amount of ground rent was £55 collected quarterly. The lease concluded in 2079. Taking into account 53 years unexpired we calculated the premium to the freeholder for the lease extension to be between £28,500 and £33,000 not including professional charges.

Roath case:

In 2009 we were called by Dr Alfie Mitchell who, having completed a one bedroom flat in Roath in June 1996. The question was if we could approximate the price could be to extend the lease by an additional years. Similar flats in Roath with a long lease were valued about £290,000. The mid-range amount of ground rent was £45 collected annually. The lease terminated in 2099. Given that there were 73 years as a residual term we calculated the premium to the landlord to extend the lease to be between £9,500 and £11,000 not including legals.