Stop! Your Lease Extension in Stourport On Severn Could Be FREE

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Many leaseholders in Stourport On Severn 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 Stourport On Severn 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 Stourport On Severn lease extension

Top reasons for lease extension now:

A Stourport On Severn lease depreciates with the years remaining on the lease.

On the balance of probabilities if you own a flat in Stourport On Severn you actually own a long leasehold interest over your property

Stourport On Severn property with a lease extension is almost 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 any lease with more than 35 years remaining, the residence will be equivalent in value to a freehold for many years in the future.

Banks and Building Societies may decide not to loan monies on a short lease

Banks and building societies differ in their lending requirements. Some set the bar at 75 years remaining on the lease; others may be content with anything with more than seventy years. With less than 60 years, it may be impossible to obtain a mortgage in the first place.

Lender Requirement
Coventry Building Society
Godiva Mortgages
Skipton Building Society
The Mortgage Works
Royal Bank of Scotland

Get in touch with one of our Stourport On Severn lease extension solicitors or enfranchisement solicitors

The conveyancing solicitors that we work with procure Stourport On Severn 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 lawyer we work with provide it.

Stourport On Severn Lease Extension Case Studies:

Lily, Stourport On Severn, Worcestershire,

After lengthy correspondence with the freeholder of her two bedroom apartment in Stourport On Severn, Lily started the lease extension process as the 80 year deadline was fast nearing. The legal work was concluded in May 2015. The freeholder’s charges were negotiated to under 650 pounds.

Stourport On Severn case:

Last Spring we were e-mailed by Mr and Mrs. F Reed , who purchased a one bedroom flat in Stourport On Severn in July 2002. The question was if we could shed any light on how much (approximately) price could be for a 90 year extension to my lease. Similar homes in Stourport On Severn with a long lease were worth £183,600. The average amount of ground rent was £65 billed yearly. The lease expired on 15 April 2083. Given that there were 57 years left we calculated the compensation to the landlord for the lease extension to be between £28,500 and £33,000 exclusive of costs.

Stourport On Severn case:

Ms W Díaz purchased a purpose-built apartment in Stourport On Severn in May 2001. We are asked if we could approximate the premium could be to extend the lease by a further 90 years. Comparative homes in Stourport On Severn with an extended lease were in the region of £250,000. The average amount of ground rent was £50 invoiced yearly. The lease expired in 2094. Considering the 68 years left we estimated the compensation to the freeholder to extend the lease to be between £10,500 and £12,000 plus fees.