Stop! Your Lease Extension in Pentyrch Could Be FREE

Get a Free Case Review
Many leaseholders in Pentyrch 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 Pentyrch 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 commence your Pentyrch lease extension

Main reasons to commence your Pentyrch lease extension today:

Increase your lease and increase your Pentyrch property value

The market value of Pentyrch leasehold residential property falls as the lease term becomes shorter and this will have an impact on its saleability. The cost of a lease extension can increase materialy once the remaining term is less than eighty years

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

Leasehold residencies in Pentyrch with in excess of one hundred years outstanding on the lease are sometimes regarded as a ‘virtual freehold’. This is where the lease value the same as a freehold interest in your home. In such situations there is often little upside in buying the reversionary interest unless savings on ground rent and service charges justify it.

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

Lenders are inclined not lend on short residential leases. You most probably experience difficulties if you wish to sell your flat in Pentyrch if the unexpired lease term is less than the criteria set by most banks and building societies. Different mortgage companies have different criteria but on the whole theyrequire an unexpired term of at least 65 years.

Lender Requirement
Bank of Scotland Minimum 70 years from the date of the mortgage.
Birmingham Midshires Minimum 70 years from the date of the mortgage.
Chelsea Building Society 85 years from the date of completion of the mortgage. Please ensure that you explain the implications of a short term lease to the borrower.
Godiva Mortgages A minimum of 70 years unexpired lease at completion for all scheme types apart from Lifetime Mortgages (Equity Release), which require a minimum unexpired term of 80 years at completion.
TSB Minimum of 70 years at mortgage commencement, with 30 years remaining at mortgage redemption.

What makes us experts in Pentyrch lease extensions?

Regardless of whether you are a tenant or a landlord in Pentyrch,the lease extension solicitors that we work with will always be happy to discuss any residential leasehold matters and offer you the benefit of their in-depth market knowledge and the close ties they enjoy with Pentyrch valuers.

Pentyrch Lease Extension Example Cases:

Lucy, Pentyrch, Cardiff,

Following unsuccessful discussions with the landlord of her purpose-built flat in Pentyrch, Lucy commenced the lease extension process as the eighty year threshold was swiftly nearing. The legal work completed in January 2013. The freeholder’s charges were negotiated to slightly above 500 GBP.

Pentyrch case:

Last March we were contacted by Mr D Ramírez , who took over the lease of a recently refurbished apartment in Pentyrch in August 2000. We are asked if we could approximate the price would be to extend the lease by a further 90 years. Identical residencies in Pentyrch with a long lease were valued about £191,000. The average amount of ground rent was £65 billed quarterly. The lease finished in 2084. Considering the 58 years outstanding we estimated the compensation to the landlord for the lease extension to be within £23,800 and £27,400 plus fees.

Pentyrch case:

In 2013 we were e-mailed by Mr C Moreau who, having was assigned a lease of a first floor apartment in Pentyrch in August 1995. We are asked if we could estimate the price would be for a ninety year extension to my lease. Identical residencies in Pentyrch with a long lease were valued around £250,000. The average ground rent payable was £50 collected quarterly. The lease concluded in 2095. Considering the 69 years as a residual term we calculated the compensation to the landlord for the lease extension to be between £9,500 and £11,000 exclusive of costs.