Stop! Your Lease Extension in Water Orton Could Be FREE

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Many leaseholders in Water Orton 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 Water Orton 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 Water Orton lease extension

Main reasons to commence your Water Orton lease extension today:

A Water Orton lease depreciates with the years remaining on the lease.

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

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

Leasehold properties in Water Orton with over one hundred years outstanding on the lease are sometimes referred to as ‘virtual freehold’. This is where the lease value the same as a freehold interest in your premises. In such circumstances there is often little upside in buying the reversionary interest unless savings on ground rent and estate charges justify it.

Lenders will not loan monies with a short lease

Most banks have tightened lending criteria in the last ten years and borrowers are finding it increasingly difficult to raise finance or re-mortgage against property with shorter lease terms, particularly under 75 years as they are deemed to be inadequate security.

Lender Requirement
Godiva Mortgages
Halifax
TSB
The Mortgage Works
Virgin

Why use us for your lease extension in Water Orton?

Irrespective of whether you are a tenant or a freeholder in Water Orton,the lease extension solicitors that we work with will always be prepared to discuss any residential leasehold matters and offer you the benefit of their experience and the close ties they enjoy with Water Orton valuers.

Water Orton Lease Extension Case Summaries:

Isabel, Water Orton, Warwickshire,

Trailing unsuccessful discussions with the freeholder of her purpose-built flat in Water Orton, Isabel started the lease extension process just as the lease was coming close to the crucial eighty-year mark. The transaction was concluded in March 2015. The freeholder’s fees were restricted to about 700 GBP.

Water Orton case:

Dr Lydia González acquired a basement flat in Water Orton in September 2010. We are asked if we could approximate the compensation to the landlord would be to extend the lease by ninety years. Comparative properties in Water Orton with a long lease were in the region of £166,800. The mid-range ground rent payable was £50 billed quarterly. The lease finished on 23 July 2076. Having 50 years unexpired we calculated the compensation to the freeholder to extend the lease to be within £32,300 and £37,400 exclusive of expenses.

Water Orton case:

Last Winter we were phoned by Mr K González , who completed a first floor apartment in Water Orton in November 2011. The dilemma was if we could estimate the price would likely be to prolong the lease by ninety years. Similar residencies in Water Orton with an extended lease were worth £280,000. The mid-range amount of ground rent was £45 billed every twelve months. The lease elapsed on 3 February 2096. Having 70 years unexpired we calculated the compensation to the landlord for the lease extension to be between £12,400 and £14,200 plus legals.