Frequently asked questions relating to Aldwych Lease Extensions

  • We are thinking about a lease extension for our apartment located in Aldwych and we don't fully comprehend the letter that we got from our landlord company. What's your legal fee?
  • I’m just looking for a one bedroom apartment to purchase in the Aldwych area and was wondering what the likely fees would be to extend a lease? It has 67 years remaining...
  • I plan on buying a flat based in Aldwych. My offer is conditional upon a lease extension. The flat owner’s solicitors 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 Barnsley Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • I am looking into the costs of carrying out a lease extension for my maisonette in Aldwych, and would like some figures on that.
  • I am about to view a one bedroom apartment, although not exactly my ideal property it has enough positives to suit me very well for my present situation. However after obtaining a copy of the title I've learnt that it only has seventy three years balance left on the lease. It is also a repossession so I'm guessing that the vendor will not be interested in doing a lease extension. My main concern is would the short lease make it difficult to secure a mortgage?
  • We are considering buying a one bed flat in Aldwych which is a leasehold. I am wondering what are the advantages and disadvantages of that - what happens when lease ends, the cost of a lease extension, can the freeholder of the land evict me from my own flat and prevent me from extending the lease?
  • I an interested in finding out more about leasehold property buying. We intend to buy a link detached house which is leasehold property is there any problem involved or hidden costs. Is it safe to buy a leasehold house in Aldwych area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to rent out the property?
  • My son has a share of freehold, with two other leaseholders in a building in Aldwych. House split into three flats. He has a lease, which has nearon seventy seven yrs unexpired lease. How much would it cost for a lease extension and how many years would he need to extend by?
  • Coming up to 2 years that I have been in my one bedroom apartment in Aldwych. I have 59 yrs outstanding on the lease. I am now wanting to buy a share of freehold or a lease extension. I purchased the property for 342K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my conveyancers about the process, he answered most of my questions but just have one left: What can I expect in terms of legal charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process drags to LVT)?
  • I am currently negotiating a lease extension for my flat in Aldwych as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?

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