Stop! Your Lease Extension in Poole Could Be FREE

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Many leaseholders in Poole 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 Poole 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 start your Poole lease extension

Main reasons to commence your Poole lease extension today:

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

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

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

It is conventional wisdom that a property with in excess of one hundred years remaining is worth approximately the same as a freehold. Where an further ninety years added to any lease with more than 35 years remaining, the premises will be worth the same as a freehold for many years ahead.

Mortgage lenders may decide not to finance a property on a short lease

Mortgage Lenders differ in their lending criteria. Some draw the line at 75 years remaining on the lease; others may be content with anything with more than 70 years. Below 60 years, it may be difficult to get a mortgage at all.

Lender Requirement
Halifax
National Westminster Bank
Nationwide Building Society
The Mortgage Works
Royal Bank of Scotland

What makes us experts in Poole lease extensions?

Retaining our service gives you increased control over the value of your Poole leasehold, as your property will be more valuable and saleable in relation to the lease length should you wish to sell. The conveyancers that we work with have a wealth of experience of handling many hundreds of lease extensions or freehold purchase transactions.

Poole Lease Extension Example Cases:

Lauren, Poole, Dorset,

Trailing unsuccessful correspondence with the landlord of her garden apartment in Poole, Lauren started the lease extension process just as the lease was coming close to the all-important 80-year threshold. The lease extension was concluded in June 2011. The landlord’s charges were kept to an absolute minimum.

Poole case:

Last Spring we were called by Ms Isobel Lefebvre , who was assigned a lease of a garden apartment in Poole in March 2007. We are asked if we could estimate the compensation to the landlord could be to prolong the lease by 90 years. Similar premises in Poole with a long lease were worth £265,000. The average amount of ground rent was £50 billed monthly. The lease finished in 2099. Taking into account 73 years unexpired we approximated the premium to the freeholder for the lease extension to be within £9,500 and £11,000 exclusive of professional charges.

Poole case:

In 2013 we were contacted by Ms Chantelle David who, having acquired a one bedroom flat in Poole in August 2003. We are asked if we could shed any light on how much (roughly) premium could be to prolong the lease by an additional years. Identical residencies in Poole with 100 year plus lease were worth £264,000. The mid-range ground rent payable was £60 collected annually. The lease expiry date was in 2079. Given that there were 53 years left we approximated the compensation to the landlord for the lease extension to be between £37,100 and £42,800 exclusive of legals.