Looking for Lawyers who specialise in extending leases?
Cardiff, as the capital city of Wales, has grown enormously in recent years – not least in the area surrounding the docks, where my grandad worked as a docker in the 1920s. City-wide development has seen it become a hub of business and industry as well as a burgeoning home to the creative arts.
The population of Cardiff grew by a massive 54,000 between the 2001 and 2011 censuses — a growth of 18.5%, which in turn has put upward pressure on property prices. And these two factors are the main reasons why Cardiff has an increasing number of purpose-built flats and buildings converted into flats or apartments
Any flat-owner who allows the term of their lease to dip below 80 years is likely to find themselves facing a high price for their lease extension. That is why it is so important to start the lease extension process sooner rather than later.
Thinking about extending your lease? Got a question? Call our specialist solicitors on FREEPHONE 0800 1404544 for FREE initial phone advice – with no strings attached.
WHY SHOULD I EXTEND MY LEASE?
There are several reasons why you may want to consider extending your lease on your flat or apartment:
- As the length of the lease decreases, the value of the property decreases. By extending your lease, you can increase the value of the property and make it more attractive to potential buyers if you decide to sell in the future.
- It can be difficult to obtain a mortgage for a property with a short lease. Lenders are often unwilling to lend on properties with less than 70 years remaining on the lease, so extending the lease can make it easier to obtain financing.
- It can also be difficult to sell a property with a short lease, as it is less attractive to potential buyers. Extending the lease can increase the pool of potential buyers and make it easier to sell the property.
- If you are living in the property and want to stay, extending the lease ensures that you will have the right to remain in the property for a longer period of time.
- If the lease is very short it can be very expensive to extend, so it is a good idea to do it before it gets too short.
WHY A SPECIALIST SOLICITOR IS SO CRUCIAL
People often question the need for a specialist lease extension solicitor in the belief that extending a lease cannot be that complicated. This is a very risky approach. Why?:
• Lease extensions involve complex laws, drafting and tight deadlines
• Your freeholder is almost certain to instruct a specialist lease extension solicitor of their own
• Too many unscrupulous freeholders attempt to offer an informal or private lease extension when a lease term is approaching the critical 80 year point – so that the lease runs below 80 years and costs far more to extend [click here to find out more about “marriage value” and the 80 year]
• Specialist lease extension solicitors will understand exactly how to help you if your lease extension becomes contentious – and an application to the First Tier property Tribunal [previously known as the Leasehold Valuation Tribunal or LVT) becomes necessary
WHY CHOOSE OUR SPECIALIST LEASE EXTENSION TEAM?
Many firms let property lawyers with little or no experience of lease extension cases to “have a go” at lease extensions – we see this a lot and these dabblers often make a complete mess. We think that’s really dangerous and that their clients’ best interests are not protected.
Here at solicitors Bonallack and Bishop, we have a growing team of lease extension specialists. They don’t dabble. Lease extension leasehold enfranchisement and right to manage work is all they do. They are real experts.
We are also members of the Association of Leasehold Enfranchisement Practitioners, the only organisation of specialist lease extension and enfranchisement solicitors and surveyors.
Click here for real case studies on how we have helped clients with extending leases.
Click here to read about what many of our clients and the specialist values we instruct really think about us.
How we can help
- Our team provides FREE no obligation initial telephone advice on FREEPHONE 0800 1404544
- We will provide you with a FREE ESTIMATE of how much it’s likely to cost you to extend your lease – which will include a rough idea of the premium you’re likely to have to pay, along with both the legal and valuation costs.
- We offer a one-stop shop – as we regularly work alongside specialist lease extension valuers nationwide, we can help you pick the right one and instruct them on your behalf
- Our team can handle the lease extension process from start to finish –all the way, if necessary, to the First-Tier Tribunal – Property Chamber (Residential Property))
LOOKING AT A CARDIFF LEASE EXTENSION? CONTACT OUR SPECIALISTS TODAY
You don’t need to come in and see us to instruct us for your lease extension. We have dealt with many thousands of lease extensions over the years and our clients come from all over England and Wales – and almost all of them never actually meet us in person but stay in contact over the phone, using email or Zoom video.
To save yourself worry and expense, start your lease extension process started today by getting in touch with our team –
- for FREE initial no strings advice, call us now on FREEPHONE 0800 1404544
- email us using the contact form below