Ashtead Lease Extension - Your Legal Fees Calculator
Top Ten Questions relating to Ashtead Lease Extensions
I have just completed on a studio flat based inAshtead and I'm considering extending the lease as soon as practicable e.g. in 24 months of ownership
I inherited a property in Ashtead and it has nearon 69 years balance left. I'd like to extend the lease period
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 own a maisonnette together with the freehold. The owners of the upstairs flat have asked to extend the lease what do I need to do?
I am thinking about whether to purchase the freehold or a lease extension of my property in Ashtead and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a get a new mortgage with Accord Mortgages Ltd to free up equity. The adviser handling the remortgage suggested I get two estimates : one for the lease extension and one for outright acquisition .The lease began in 1981 and since then the ground rent has been raised from £15.00 per year to £300 per year.
I am looking to buy a one bed flat in Ashtead for asking price of 145k, which has fivety five 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 query 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?
I'm living with my parents but have a one bedroom apartment in Ashtead let out which has a 75 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 Ashtead 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. Not sure sure whether to hold on or sell the flat?
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 extending the lease?
Me and my partner have been in discussion with our freeholder after having a valuation on our ground floor flat in Ashtead. We have a 54 year lease and we wish to increase this to 99. The Freeholder has given us with a premium amount that he is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a conveyancing practitioners to handle this for us. Can you please provide me what your costs would be to act on our behalf.
I'm looking for some advice with regard to a lease extension on my studio flat in Ashtead. I'll be looking to do this sometime next year as we need to move at some point then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the tribunal route. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?