Brook Green Lease Extension - Your Legal Fees Calculator
Sample questions relating to Brook Green Lease Extensions
I need to extend my current lease can you help me with that? I think it has sixety five years outstanding
I am about to put an offer in on a one bedroom first floor purpose built flat in Brook Green with a lease of seventy eight years but have no idea what I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
My mortgage provider requires a £450 fee for their solicitors for a "deed of substituted security" for the lease extension for my flat in Brook Green... I am unable to find any reference of this in my mortgage literature... is this a usual cost that they charge?
I am looking at buying an auction property and identified a one bed flat in Brook Green. It has just fifty year lease..the current owner being mortgagees in possession dont want to mess around with applying for a lease extension..what are the disadvantages of this other than the huge fee to put a new lease on it and decreased chance of getting a mortgage with TSB?
I am interested in getting my lease extended and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
My property lawyers (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?
I'm living with my mother and father but have a one bedroom apartment in Brook Green let out which has a sixety seven 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 Brook Green 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?
If somebody 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 doing it?
I have 67 years remaining on my lease of a ground floor flat in Brook Green, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is too high