Stop! Your Lease Extension in Ruddington Could Be FREE

Get a Free Case Review
Many leaseholders in Ruddington 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 Ruddington 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 Ruddington lease extension

Main reasons to start your Ruddington lease extension today:

Increase your lease and increase your Ruddington property value

Ruddington residential property held on a long lease is a wasting asset as the leaseholder merely owns the property for a period of years.

An extended lease is almost the same value as a freehold

It is generally considered that a residential leasehold with over one hundred years unexpired lease term is worth approximately the equivalent as a freehold. Where an further ninety years added to all but the shortest lease, the residence will be worth the same as a freehold for many years ahead.

Banks and Building Societies will not loan monies with a short lease

Banks and building societies differ in their lending requirements. Some draw the line at 75 years remaining on the lease; others may be prepared to lend with anything over 70 years. Below sixty years, it may be impossible to get a mortgage in the first place.

Lender Requirement
Barclays plc
Barnsley Building Society
Birmingham Midshires
Chelsea Building Society
Coventry Building Society

Why use us for your lease extension in Ruddington?

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

Ruddington Lease Extension Case Studies:

Abigail, Ruddington, Nottinghamshire,

Off the back of lengthy negotiations with the freeholder of her ground floor flat in Ruddington, Abigail started the lease extension process just as the lease was coming close to the crucial 80-year threshold. The lease extension was concluded in February 2008. The landlord’s charges were kept to an absolute minimum.

Ruddington case:

Dr Theo Roux moved into a garden flat in Ruddington in August 2009. The question was if we could shed any light on how much (approximately) premium would likely be for a ninety year extension to my lease. Similar flats in Ruddington with a long lease were worth £181,600. The average amount of ground rent was £55 invoiced per annum. The lease ran out in 2078. Given that there were 52 years unexpired we calculated the compensation to the landlord for the lease extension to be between £30,400 and £35,200 not including costs.

Ruddington case:

Last Autumn we were called by Dr T Rodríguez , who owned a basement apartment in Ruddington in July 2011. The dilemma was if we could approximate the premium would likely be to extend the lease by ninety years. Comparative residencies in Ruddington with an extended lease were worth £285,000. The mid-range ground rent payable was £45 invoiced every twelve months. The lease expired in 2098. Given that there were 72 years outstanding we approximated the compensation to the freeholder for the lease extension to be between £12,400 and £14,200 not including expenses.