Stop! Your Lease Extension in Stanwell Could Be FREE

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Many leaseholders in Stanwell 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 Stanwell 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 start your Stanwell lease extension

Why you should start your Stanwell lease extension today:

Increase your lease and increase your Stanwell property value

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

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a property with in excess of 100 years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to all but the shortest lease, the property will be worth the same as a freehold for decades to come.

Banks and Building Societies may decide not to finance a property on a short lease

Banks and Building Societies are less likely to issue a loan offer on a residential flat in Stanwell with a short lease. Some lenders simply refuse to lend on leases with under 75 years left.

Lender Requirement
Birmingham Midshires Minimum 70 years from the date of the mortgage.
Lloyds TSB Scotland Minimum 70 years from the date of the mortgage.
National Westminster Bank Mortgage term plus 30 years.

For Shared Ownership, the remaining term of the lease must be at least 75 years plus the term of the mortgage at the outset of the mortgage.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.
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 Stanwell?

Engaging our service gives you enhanced control over the value of your Stanwell leasehold, as your property will be more valuable and marketable in terms of lease length should you decide to sell. The conveyancers that we work with are well versed in the legislation handling many hundreds of lease extensions or freehold purchase transactions.

Stanwell Lease Extension Example Cases:

John, Stanwell, North London

Two years ago John, started to get close to the eighty-year mark with the lease on his leasehold flat in Stanwell. Having purchased his flat 18 years previously, the length of the lease was of minimal concern. Fortunately, it dawned on him that he needed to take action soon on Extending the lease. John arranged for a lease extension at the eleventh hour last September. John and the landlord ultimately agreed on an amount of £5,000 . If the lease had slid to less than 80 years, the sum would have become more costly by at least £900.

Stanwell case:

Last Winter we were called by Dr N Nguyen , who moved into a studio flat in Stanwell in May 2004. We are asked if we could approximate the premium could be to prolong the lease by an additional years. Comparative flats in Stanwell with 100 year plus lease were in the region of £176,200. The average amount of ground rent was £65 invoiced per annum. The lease lapsed in 2082. Taking into account 56 years unexpired we approximated the premium to the landlord for the lease extension to be within £29,500 and £34,000 not including fees.

Decision in Hounslow

An example of a Lease Extension decision for a Stanwell property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case affected 1 flat. The unexpired term was 82.93 years.