Bacup Lease Extensions: Q and A’s

  • My name´s Jamie. I’m house hunting in Bacup I'm seeing a garden flat online, with just over sixety six years remaining, how much will it likely cost to extend in this area by, say, ninety years?
  • I have shares in the freehold of buildings comprising of six flats each. 2 of the leasehold owners want to extend their leases and I'm enquiring about the procedure for this
  • My wife has an apartment based in Bacup which we are about to put on the market. The leasehold has approximately 77 years balance left on it and we are concerned this will come up for anyone who may be interested. Can you please assist on how we commence arranging a lease extension? Many thanks.
  • I have got a leasehold flat in the Bacup area and was enquiring if I could get a lease extension. What are your processes and charges. Has sixety three years residual lease term
  • We own a leasehold with a landlord who has failed to respond by way of a counter-notice for a lease extension for our flat in Bacup and are therefore considering the option of a vesting order. Is this something you can handle for us?
  • I am a FTB of a leasehold flat in Bacup. The lease has just 66 years left and ground rent is £50. Is it possible for the flat owner to serve the Initial Notice and then transfer this right to me as the buyer once I complete the buying process so that I can avoid waiting for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this may be possible but will it be very time costly to the current owner? To add to the complexity it’s the case of an absent landlord, so I am not sure how does it work.
  • I am planning to get a lease extension and am wondering what step I have to do first, I have been previously advised that I have to have the finances in place before I set the ball rolling, is this correct?
  • 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?
  • Just been over two years that I have owned my one bedroom apartment in Bacup. I have 66 yrs outstanding on the lease. I am now looking either to purchase a share of freehold or extend my lease. I acquired the property for 320K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of financing - do they add it to their existing mortgage or pay it out in cash?
  • Hopefully an easy question for you, how much does it cost for a lease extension on a residential property in Bacup for a two bed flat - sec 42 having been issued?

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