Stop! Your Lease Extension in Wadhurst Could Be FREE

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Many leaseholders in Wadhurst 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 Wadhurst 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.

Why you should commence your Wadhurst lease extension

Why you should commence your Wadhurst lease extension today:

Increase your lease and increase your Wadhurst property value

Chances are that where you own a flat in Wadhurst you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is generally considered that a property with in excess of one hundred years remaining is worth approximately the same as a freehold. Where an additional ninety years added to any lease with more than 45 years left, the property will be equivalent in value to a freehold for many years in the future.

Lenders will not loan monies on a short lease

Mortgage Lenders differ in their lending criteria. Some set the bar at seventy five years left on the lease; others may be happy with anything with more than 70 years. With less than sixty years, it may be problematic to get a mortgage in the first place.

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

Get in touch with one of our Wadhurst lease extension solicitors or enfranchisement solicitors

Engaging our service will provide you enhanced control over the value of your Wadhurst leasehold, as your property will be more valuable and marketable in terms of lease length should you decide to sell. The conveyancing solicitors that we work with have a wealth of experience of handling many hundreds of lease extensions or freehold purchase transactions.

Wadhurst Lease Extension Case Summaries:

Natalie, Wadhurst, East Sussex,

Trailing protracted negotiations with the landlord of her two bedroom flat in Wadhurst, Natalie initiated the lease extension process as the eighty year threshold was swiftly advancing. The transaction was concluded in October 2011. The freeholder’s costs were kept to an absolute minimum.

Wadhurst case:

Mrs P Lee bought a purpose-built apartment in Wadhurst in June 2006. The question was if we could approximate the compensation to the landlord would be for a ninety year lease extension. Comparable homes in Wadhurst with a long lease were worth £250,400. The average amount of ground rent was £65 billed every twelve months. The lease lapsed in 2090. Taking into account 64 years unexpired we calculated the compensation to the freeholder to extend the lease to be between £19,000 and £22,000 exclusive of legals.

Wadhurst case:

Ms P Girard was assigned a lease of a one bedroom apartment in Wadhurst in July 2004. We are asked if we could estimate the price would be to prolong the lease by 90 years. Comparative properties in Wadhurst with 100 year plus lease were worth £189,000. The average ground rent payable was £55 invoiced annually. The lease ended on 10 August 2079. Given that there were 53 years unexpired we approximated the premium to the freeholder for the lease extension to be between £28,500 and £33,000 exclusive of expenses.