Stop! Your Lease Extension in Wallington Could Be FREE

Get a Free Case Review
Many leaseholders in Wallington 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 Wallington 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 Wallington lease extension

Why you should start your Wallington lease extension today:

A Wallington leasehold property depreciates with the years remaining on the lease.

Chances are that if you own a flat in Wallington you actually own a long leasehold interest over your property

An extended lease has roughly the same value as a freehold

It is conventional wisdom that a residential leasehold with in excess of 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 35 years left, the premises will be worth the same as a freehold for many years in the future.

Banks and Building Societies may decide not to grant a mortgage on a short lease

Most mortgage lenders have tightened lending criteria in recent years and borrowers are finding it increasingly difficult to raise finance or re-mortgage against flats with shorter lease terms, particularly below 75 years as they are considered to be inadequate for lending purposes.

Lender Requirement
Barclays plc
Barnsley Building Society
Birmingham Midshires
Coventry Building Society
Skipton Building Society

Why use us for your lease extension in Wallington?

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

Wallington Lease Extension Case Summaries:

Aiden, Wallington, Surrey

Two years ago Aiden, started to get close to the eighty-year mark with the lease on his studio apartment in Wallington. In buying his home 18 years ago, the lease term was of minimal significance. Fortunately, he realised he needed to take action soon on Extending the lease. Aiden arranged for a lease extension just ahead of time in May. Aiden and the freeholder via the managing agents eventually agreed on an amount of £5,500 . If he had missed the deadline, the price would have escalated by at least £850.

Wallington case:

Dr Mia Robinson took over the lease of a garden flat in Wallington in February 1998. The question was if we could approximate the price would likely be for a 90 year lease extension. Similar homes in Wallington with 100 year plus lease were valued about £285,000. The mid-range amount of ground rent was £45 billed monthly. The lease expired on 5 November 2098. Given that there were 72 years remaining we approximated the premium to the freeholder to extend the lease to be between £12,400 and £14,200 not including expenses.

Decision in Sutton

An example of a Freehold Enfranchisement decision for a Wallington property is 21 & 23 Carshalton Grove in May 2009. the Tribunal adopted the figures presented as the premiums payable by the Applicant i.e. a total of £20,750. This case was in relation to 2 flats. The remaining number of years on the lease was 72 years.