Stop! Your Lease Extension in Swanscombe Could Be FREE

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Many leaseholders in Swanscombe 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 Swanscombe 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 Swanscombe lease extension

Main reasons to start your Swanscombe lease extension today:

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

Swanscombe residential property held on a long lease is a depreciating asset because a leaseholder only owns the property for a period of years.

Swanscombe property with a lease extension is almost the same value as a freehold

It is generally accepted that a property with more than one hundred years unexpired lease term is worth approximately the same as a freehold. Where an further 90 years added to any lease with more than 30 years left, the residence will be equivalent in value to a freehold for decades to come.

Mortgage lenders may not issue a mortgage with a short lease

Banks and building societies vary in their lending requirements. Some set the bar at seventy five years left on the lease; others may be content with anything in excess seventy years. Below sixty years, it may be difficult to get a mortgage at all.

Lender Requirement
Godiva Mortgages
Nationwide Building Society
Skipton Building Society
TSB
Yorkshire Building Society

Why use us for your lease extension in Swanscombe?

The conveyancers that we work with undertake Swanscombe 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 conveyancer we work with provide it.

Swanscombe Lease Extension Case Studies:

George, Swanscombe, Kent

Last October George, came perilously close to the 80-year threshold with the lease on his studio apartment in Swanscombe. Having bought his flat two decades ago, the lease term was of little importance. Thankfully, he recognised he would soon be paying way over the odds for a lease extension. George was able to extend his lease just under the wire in March. George and the landlord who owned the flat above in the end settled on sum of £5,000 . If the lease had fallen below eighty years, the price would have become more costly by at least £1,125.

Swanscombe case:

In 2013 we were called by Mr and Mrs. J Martínez who, having completed a garden apartment in Swanscombe in March 2008. The question was if we could estimate the price would be for a 90 year lease extension. Comparative homes in Swanscombe with 100 year plus lease were in the region of £260,000. The average amount of ground rent was £50 invoiced monthly. The lease ended on 22 September 2097. Given that there were 71 years outstanding we approximated the premium to the landlord for the lease extension to be between £9,500 and £11,000 plus costs.

Decision in Bexley

An example of a Lease Extension decision for a Swanscombe residence is Various @ Colombus Square in January 2012. the Tribunal calculated the premiums to be paid for new leases for each of the flats in Mariners Walk to be £3822 and the premium to be paid for the new lease of 2 Knights Court to be £4439. This case related to 13 flats. The number of years remaining on the existing lease(s) was 76 years.