Aldridge Lease Extensions

Recently asked questions relating to Aldridge Lease Extensions

My name´s Austin. I’m house hunting in Aldridge I'm seeing a one bedroom apartment online, with around seventy eight years left, how much does it cost on average to get a lease extension by, say, fifty years?

I inherited a flat in Aldridge with a leasehold unexpired approximately sixety one years and need a lease extension. Please can you advise me of the next stages

I have a lease of 76 years on a property which I am looking to buy how much am I looking at for the cost to extend the lease?

I am going to purchase a flat in Aldridge. My offer is conditional upon a lease extension. The vendor’s has given to the freeholder the Section 42 Notice. 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 Norwich and Peterborough Building Society. Moreover, which are the following lease extension steps to complete the purchase?

I am looking to either purchase the freehold or a lease extension of my property in Aldridge and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously get a new mortgage with Nottingham Building Society to free up equity. The broker dealing with the remortgage suggested I get two quotes : one for the lease extension and one for the freehold acquisition .The lease started in 1981 and since then the ground rent has been raised from £38.00 per annum to £125 per year.

I'm looking for a flat to purchase in Aldridge and I'm not really familiar with the leasehold tenure. I've found a place I like with a 82 years lease. I've read that I can apply for a lease extension having owned the property for 2 years, but:- Is this a given?

I will soon view a one bedroom flat, although not exactly my ideal property it has enough positives to suit me very well for my present situation. However after downloading a copy of the title I've learnt that it only has 79 years remaining on the lease. It is also a repossession so I'm assuming that the bank will not be interested in extending the lease. My main concern is would it be difficult to sell on without a lease extension?

My wife and I have a residential flat in Aldridge with seventy seven years remaining. Ten months ago we were quoted a deal to grant a lease extension for another fifty years but also increase ground rent from notional to £200 per annum..plus a premium I think of approximately 10k. Finally we have decided to move forward but do we now have to start the negotiations again?

My brother and I are proceeding with buying a one bedroom ground floor purpose built maisonette in Aldridge. I was advised by the EA that the lease extension had already been completed while on a viewing (58 years remaining prior to extension). The description on the listing said "sold with a long lease". It turns out as we are about to exchange of contracts we find that there has been no lease extension. The flat owner supposedly has a quote but no funds to extend as a result the seller wishes to exchange and use the deposit monies for the lease extension. My question is why has this only just been brought to my attention by my ?

We currently own a 2 bed flat in Aldridge and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has seventy eight years left. Not sure what to do, have read some bits on the web saying it will be 20k plus to get a lease extension. Do you have some advice on this? Do I contact the freeholder first and will they be able to give me a cost?

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