Bromyard Lease Extension - Your Legal Fees Calculator
Top Ten Questions relating to Bromyard Lease Extensions
I’m about to offer on a 2 bed flat to purchase in the Bromyard area and was curious how much would it cost to extend a lease? It has 65 years outstanding...
I am fairly sure that our property lawyers has advised us incorrectly concerning a lease extension and I want to find out how to complain
I am in need of a rough estimate of what a lease extension will cost for a flat I would like to purchase. It has 57 years residual lease term.
I am thinking about whether to purchase the freehold or a lease extension of my property in Bromyard 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 Coventry Building Society to release of equity. The broker handling the remortgage suggested I get two estimates : one to extend the lease and one for the freehold purchase .The lease commenced in 1972 and since then the ground rent has increased from £38.00 per annum to £125 per year.
I have a share of the freehold. There are five apartments in the building. All the leaseholders are now seeking lease extensions. Are you willing to help us with this situation?
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?
I am the freeholder of a property in Bromyard where the leaseholder would like a lease extension. Her valuer has provided a figure of £9,000, but has upped this to £10,000 without too much effort. My valuer has put forward a much higher amount. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to tribunal, can I deal with this myself, just equipped with the valuations I have? If not, what costs would I be likely to face?
My colleague is concerned about getting a lease extension from tricky landlord. Even though the correct procedures were adhered to under the appropriate legislation, the landlord still tried to charge ground rent of £300 increasing by 100% every twenty five years of the new term. Can you assist?
I know that others in the same block had already had a lease extension, and the landlord seemed reasonable. It therefore appears worth taking risk of avoiding a formal survey and calculate the initial offer on on the premiums paid by others . This would save on double valuation charges. Is this advisable?
I am currently negotiating a lease extension for my flat in Bromyard 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?