Aldridge Lease Extension - Your Legal Fees Calculator
Questions and Answers: Aldridge Lease Extensions
I have an interest in the freehold of 2 blocks of flats comprising of seven flats each. Two of the leasehold owners want a lease extension and I'm wondering about the procedure for this
I am looking to extend the lease on my one bedroom apartment in Aldridge which will have seventy nine years unexpired lease in November. What fees do you charge for this?
I'm planning to make an offer on a house in Aldridge but I'm concerned about it being leasehold. Do you know what title absolute means and is this regarding the lease? Also, we have asked to see a copy of the lease but the homeowner said they might not have it. We are worried about restrictions, and dont know what to do. We have also been approved for the mortgage but the lender doesn't know its leasehold. Do houses qualify for lease extension? Will this affect Bank of Ireland giving us the mortgage now?
I am the owner of a maisonnette together with the freehold reversion. My downstairs neighbours have asked to extend the lease what do I need to do?
The intention is to sell our garden flat in Aldridge but we may need to extend the lease, or possibly cover the expense of our purchaser. Are you able to suggest someone to help us?
My co-lessees and I are in a building comprising five flats in Aldridge and have been offered to buy the freehold for 8k 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?
I will soon view a two bedroom flat, although not exactly my perfect property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has seventy six years unexpired on the lease. It is also a repo so I'm assuming that the bank will not be interested in doing a lease extension. My main concern is would it be difficult to sell on without a lease extension?
Coming up to two years that I have owned my ground floor flat in Aldridge. I have fivety nine yrs left on the lease. I am now looking either to purchase a share of freehold or extend my lease. I purchased the property for 350K, it is now roughly 450k. I understand that 90 years is the period most people extend. I spoke to my property lawyers about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
If somebody owns a flat with a lease of less than 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 am planning on remortgaging my one bedroom apartment in Aldridge and the bank that I am looking to switch to requires a minimum 85 years on the leasehold of my property in order for them to take the mortgage forward. I have found that I currently have around 58 years on the leasehold so require some help, guidance, and some quotes to get the wheels in motion for a lease extension