Stop! Your Lease Extension in St Asaph Could Be FREE

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Many leaseholders in St Asaph 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 St Asaph 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 St Asaph lease extension

Main reasons to commence your St Asaph lease extension today:

A St Asaph leasehold property depreciates with the years remaining on the lease.

St Asaph residential property held on a long lease is a depreciating asset as the leaseholder merely owns the property for a set term.

An extended lease has roughly the same value as a freehold

It is generally accepted that a residential leasehold with over one hundred years remaining is worth approximately the equivalent as a freehold. Where an additional ninety years added to all but the shortest lease, the property will be worth the same as a freehold for decades to come.

Mortgage lenders may decide not to loan monies with a short lease

The definition of a short lease varies by mortgage company, yet banks and building societies start to become nervous at around 75 years. This will be problematic as and when you need to market or remortgage your property as it will be effectively unmortgageable. Even though you may have no imminent plan to sell but when you do your buyer must hold off for 2 years before being able to exercise the right to a a lease extension.

Lender Requirement
Accord Mortgages 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.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
Royal Bank of Scotland Mortgage term plus 30 years.
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.

What makes us experts in St Asaph lease extensions?

Retaining our service gives you increased control over the value of your St Asaph leasehold, as your property will be more valuable and marketable in terms of lease length should you decide to sell. The lawyers that we work with have a in-depth market knowledge handling many hundreds of lease extensions or freehold purchase transactions.

St Asaph Lease Extension Example Cases:

Kayleigh, St Asaph, Denbighshire,

Off the back of unsuccessful discussions with the landlord of her basement apartment in St Asaph, Kayleigh initiated the lease extension process as the eighty year threshold was quickly nearing. The legal work completed in August 2012. The landlord’s charges were kept to an absolute minimum.

St Asaph case:

Last Summer we were called by Mr and Mrs. N Watson , who took over the lease of a studio apartment in St Asaph in October 1998. The question was if we could approximate the price would be to extend the lease by ninety years. Similar residencies in St Asaph with a long lease were worth £243,000. The average ground rent payable was £65 invoiced monthly. The lease concluded on 15 January 2089. Considering the 63 years remaining we approximated the compensation to the freeholder for the lease extension to be between £20,000 and £23,000 plus expenses.

St Asaph case:

Mr and Mrs. O Reed purchased a basement apartment in St Asaph in March 1996. We are asked if we could approximate the compensation to the landlord would be to prolong the lease by a further 90 years. Similar homes in St Asaph with 100 year plus lease were in the region of £181,600. The mid-range amount of ground rent was £55 billed every twelve months. The lease ended on 5 May 2078. Given that there were 52 years left we estimated the premium to the landlord to extend the lease to be between £30,400 and £35,200 plus legals.