Bacup Lease Extension - Your Legal Fees Calculator
Questions and Answers: Bacup Lease Extensions
I’m about to offer on a maisonette to purchase in the Bacup area and was wondering how much would it cost to extend a lease? It has fivety nine years residual lease term...
We have seen a house for sale for £185,000 and we are very interested but we've just discovered that it is leasehold. There are 928 years left so a lease extension is not a concern. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this true? We wouldn't want to pay a mortgage for 25 years without the house being ours. Any information would be much appreciated.
I am looking to buy a garden flat in Bacup with a lease of 57 years but have no idea how much I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
How much will I need to spend and what is the best way to start the lease extension process? I have around 70 years remaining on my lease on a garden flat in Bacup. I have called the agent who act on behalf of the landlord and they sent me the number of the valuer. I telephone the surveyor but I am not getting any kind of reaction.
My husband and I have owned a leasehold flat for approximately fifteen years. There are 60 years unexpired lease on the lease. After a year of protracted negotiations through my conveyancers and, mainly, surveyor I now have an offer from the landlord. I now have to make a decision as to whether to accept it or go to LVT and would welcome advice.
I'm living with my mother and father but have a ground floor flat in Bacup let out which has a sixety 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 Bacup 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 21k. Not sure sure whether to hold on or sell the flat?
I know that others in the same block had already had a lease extension, and the freeholder was reasonable. Therefore is seems worth taking risk of not having formal valuation and base the initial offer on on the prices by others . This would save on double valuation charges. Would you recommend such a course of action?
I am currently negotiating a lease extension for my flat in Bacup 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 garden flat in Bacup with a lease of 67 years left with a value of around £370000 we want to add 90 years to it, how much is that likely to cost?
I have a lease of sixety one years remaining on my flat in Bacup. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?