Lease Extensions in Addiscombe

Common questions relating to Addiscombe Lease Extensions

I am looking for a rough estimate of what a lease extension will cost for a flat I intend to buy. It has seventy two years balance left.

I am looking for a in Addiscombe and they need to be on the Birmingham Midshires approved conveyancers panel as we need a lease extension and refinance at the same time. Are you able to recommend any please ?

I plan on buying a flat in Addiscombe. The offer is conditional upon a lease extension. The flat owner’s has served the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Bank of Ireland. Moreover, which are the following lease extension steps to complete the purchase?

I need to talk to you about a flat in Addiscombe, I am considering buying at auction next month. The flat has a short lease and I wanted to inquire about what it would cost to get a lease extension and for your services.

My mortgage provider is requesting several hundred pounds for their for a "deed of substituted security" for the lease extension for my flat in Addiscombe... I am unable to find any mention of this in my mortgage guide... is this a normal cost that they charge?

I am looking to buy a one bed flat in Addiscombe for asking price of 125k, which has 65 years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My question is: If landlord does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?

My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?

If somebody owns a flat with a lease of under 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not doing it?

I have seventy seven years remaining on my lease of a ground floor flat in Addiscombe, the Landlord requires a £18k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is acceptable

I have a lease of 75 years remaining on my flat in Addiscombe. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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