Questions and Answers: Askam In Furness Lease Extensions

  • I’m just looking for a three bedroom ground floor purpose built maisonette to buy in the Askam In Furness area and was enquiring what the likely fees would be to extend a lease? It has fivety nine years as a balance left...
  • I need to extend my current lease can you help me with that? My investigation with the Land Registry reveal that it has sixety years balance left
  • I want to purchase a leasehold property and extend the lease. The current owner has been there over 2 years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • I would like to have my residential flat leasehold extension premium valued. The flat is in Askam In Furness, and my lease will reach sixety nine years this November. Could you advise me about the costs and time-frame to obtain your valuation? Also, do you represent your clients at the Tribunal court?
  • 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 £2500 to extend the lease. I will be doing a refinance with Alliance & Leicester to free up equity. The adviser dealing with the remortgage suggested I get two quotes : one to extend the lease and one for outright purchase .The lease began in 1981 and since then the ground rent has increased from £38.00 per annum to £300 per year.
  • Ref a leasehold in Askam In Furness. upper maisonette. seventy three yrs left. I have an agreed lease extension to £20k for 125yrs. Freeholder also insisted on Notice of Claim which I think should not be necessary. Advice required.
  • My brother and I are are hoping to complete on a three bed flat in Askam In Furness which has share of freehold and a leasehold. The lease was on the short side so the vendor commenced extending the lease. The seller’s lawyer has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. A crucial aspect of the house buying process is for our to do OS1 search on the lease. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new lease title number is not known. Is it correct that we must wait pending registration of the new lease?
  • I know that others in the same block had already had a lease extension, and the freeholder was amenable. Therefore is seems worth taking risk of avoiding a formal valuation and base the initial offer on previous prices . This would save on double valuation fees. Would you suggest this course of action?
  • I am currently negotiating a lease extension for my flat in Askam In Furness 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?
  • We have a three bedroom ground floor purpose built maisonette in Askam In Furness with a lease of sixety years left with a value of around £370000 we want to add 90 years to it, how much is that likely to cost?

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