Archie’s
Take back control of your property.
Who we are
Archie's is a company that provides assistance and financing to clients looking to extend their lease.
Owners of short leasehold property find themselves in a difficult position:
- —selling means accepting a discount due to smaller buyer pool; and,
- —serving a s42 is a costly and opaque process
all the while, the clock is ticking while the cost to extend their lease increase between 3.3% and 5.3% per year
Our undertaking
A more complete offering.
Some companies offer assistance in finding professionals to instruct, others promise to broker debt from a network of lenders. At Archie's, you can find a one-stop shop for your needs.
Clear advice; no hidden charge
Because the process is confusing, we want to encourage conversation without worrying about getting charged. Use the resources on our site or schedule a call with our staff to ask as many questions as you want on lease extension process and our offering. All at no charge. We are not solicitors, and we will insist on you instructing a solicitor and receiving legal advice so that you can act independently.
Vetted professionals
We have personal relationships with experienced and trusted professionals; both solicitors and surveyors. We will help you find the right advisors who will work for and advise YOU; not Archie's. At Archie's, it is crucial to us that any decision you make is an informed one, and any advice you receive must be free of any conflict of interest.
Costs, covered
At every junction of the process which requires you to dip into your pocket, Archie's is there to lend you the cash. This includes professional fees, tax and duties, and extension premiums. Every fee paid to Archie's will be made clear prior to commitment. No hidden fees. No predatory interest.
Why it matters
A shortening lease is a quiet emergency.
Issues pile up quickly once you are on a lease with fewer than 80 years. It becomes increasingly difficult to mortgage the asset, while selling it poses its own challenges as the asset buyers need increasingly higher deposit ratios, or even an all cash offer. As you decide, the cost to extend the lease increases exponentially every year. Serving a s42 notice stops the depreciation of your asset.
Example £1 million Property: This graph uses the statutory calculations to show the premium needed to extend the lease for each term, and highlights the increase as the term decreases. The steeper the curve, the faster the increase in the premium. Owners with 55 years or less on their term are in the most quickly deteriorating situation.