Recently asked questions relating to Askam In Furness Lease Extensions

  • Me and my partner have just bought a 2 bed conversion flat inAskam In Furness and I'm considering a lease extension as soon as practicable e.g. after 24 months of ownership
  • I am looking to either purchase the freehold or a lease extension of my property in Askam In Furness and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a remortgage with The Mortgage Works to free up equity. The adviser handling the remortgage suggested I get two estimates : one to extend the lease and one for the freehold purchase .The lease began in 1979 and since then the ground rent has been raised from £25.00 per year to £100 per year.
  • My partner and I have a GFF located in Askam In Furness. There is 80 years to run on the lease and we want to extend the lease. What does it cost on average to extend in this area by, say,fifty years
  • My wife and I are proceeding with buying a studio flat in Askam In Furness. I was informed that the lease had been lengthened (73 years left prior to extension). The description on the listing said "sold with a long lease". It turns out at the point of exchange of contracts we find that the lease has not been extended. The homeowner apparently has a quote but no funds to extend and consequently the current owner intends to exchange and use the my deposit for the lease extension. My question is as the lease hasn't been extended is there not a danger that Britannia won't lend on a lease?
  • I own a purpose-built apartment in a large block in Askam In Furness. The leasehold interest in the apartment on a 99 year lease started from 21st March 1980 with a non-reviewable yearly rent of 35. I would like to obtain a lease extension. Is it possible for me to talk with someone to discuss my options please?
  • My (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?
  • If a leaseholder 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?
  • It says on your website the likely fee to extend a lease is £495. Is that the total cost including vat and the HMLR fee? The premium has already been negotiated with the freeholder for the lease extension for my garden flat in Askam In Furness
  • We know that others in the same building previously had a lease extension, and the landlord was reasonable. It therefore appears worth taking risk of not having formal survey and calculate the initial offer on previous prices . This would save on double valuation charges. Is this advisable?
  • I am currently in the process of refinancing my maisonette in Askam In Furness and the mortgage company that I am looking to move to requires at least 85 years on the leasehold of my property in order for them to take the mortgage forward. We currently have around sixety six years on the leasehold so looking for some advice, guidance, and some quotes to set the wheels in motion for a lease extension

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