Allenton Lease Extension - Your Legal Fees Calculator
Common questions relating to Allenton Lease Extensions
I am in need of a rough estimate of what a lease extension will cost for a flat I intend to buy. It has fivety five years residual lease term.
Do you only undertake lease extensions in Allenton? I own a flat in Abbey Wood with 90 years left, I am looking for a quote from a property lawyers.
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?
I am about to view a one bedroom flat, although not exactly my dream 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 79 years left on the lease. It is also a repo so I'm assuming that the lender will not be interested in doing a lease extension. My primary concern is would it be difficult to sell on without a lease extension?
I have my suspicions that my niece might have had the wool pulled over her eyes. She put in an offer on a ground floor flat in Allenton, where the lease is approximately sixety years but she was told by the selling agents that the current owner had extended it to 99 years. Only now has she been advised the vendor was holding off for her to retain solicitors prior to commencing with the lease extension. Sounds odd to me, also it could take months to sort it all out. Am I reading too much into it?
I intend to buy a one bed flat in Allenton for asking price of 125k, which has 69 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 the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
My lawyers (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?
My OH and I are are hoping to complete on a three bed flat in Allenton which has share of freehold and a leasehold. The lease was starting to get low so the seller commenced dealing with a lease extension. The seller has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the house buying process is for our lawyers to do a pre-completion search on the property title. The concern here is that as a lease extension has been submitted we've been told by our conveyancing practitioners it may not be possible to do this "priority search" right now as the new lease title number has not been issued. Is it correct that we must be patient until the lease extension has actually been registered before completing.?
I am currently in the process of remortgaging my studio flat in Allenton and the mortgage company that I am looking to switch to requires a minimum 85 years remaining on the lease in order for them to take the mortgage forward. We currently have around sixety one years on the leasehold so require some help, guidance, and some quotes to get the wheels in motion for a lease extension
I am currently negotiating a lease extension for my flat in Allenton 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?