Alcester Lease Extensions

Frequently asked questions relating to Alcester Lease Extensions

We have seen a house for sale for £195k and we are very interested but we've just discovered that it is leasehold. There are 928 years outstanding so a lease extension is not a worry. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for 25 years without owning the property. Any suggestions would be much appreciated.

This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?

My neighbours and I are in a block made up five flats in Alcester and have been offered to buy the freehold for £5000 per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?

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

I am looking at purchasing an auction property and identified a two bed flat in Alcester. It has just 49 year lease..the current owner being mortgagees in possession will not want the aggravation of seeking a lease extension..what are the disadvantages of this other than the expensive fee to put a new lease on it and decreased chance of getting a mortgage with Nottingham Building Society?

We are considering buying a ground floor flat in Alcester which is a leasehold. I am wanting to weigh up the pros and cons of that - what occurs when lease ends, how much it costs to extend it, can the freeholder of the land evict me from my own flat and block me from having a lease extension?

Me and my partner have owned a leasehold flat for approximately eighteen years. It now has seventy eight years remaining on the lease. After a year of protracted negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I now have to make a decision as to whether to accept it or go to a Tribunal and would welcome some independent thoughts.

I'm living at mum and dad but have a three bed flat in Alcester let out which has a sixety seven year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Alcester for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 13k. Should I keep or sell the flat?

I note that your website states the anticipated fee for dealing with a lease extension is £495. Is that the total cost including vat and the land registry fee? The premium has already been agreed with the freeholder for the lease extension for my one bedroom apartment in Alcester

I own the freehold reversion of a property in Alcester where the leaseholder has requested a lease extension. Her valuer has given a figure of £9,000, but has upped this to £10,000 without too much effort. My valuer has come back with £12,520. She does not appear to wish to negotiate wanting to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what costs would I be likely to incur?

Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Alcester