Common questions relating to Bubwith Lease Extensions

  • I am looking at investing in a second home but it has a lease that expires in fifteen years. Its in Bubwith - I wanted to see if with your services it is possible for this to be extended?
  • I plan on buying a flat based in Bubwith. My offer is conditional upon a lease extension. The current owner’s has given to the freeholder the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Skipton Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • I need to talk to you about a flat in Bubwith, I am considering buying at auction next week. The flat has a short lease and I am curious about how much it would cost to get a lease extension and for your services.
  • I am about to view a two bedroom flat, although not exactly my dream property it has enough positives to suit me very well for my present situation. However after downloading a copy of the title I've learnt that it only has seventy eight years residual lease term on the lease. It is also a repossession so I'm assuming that the bank will not be interested in doing a lease extension. My primary concern is would it be difficult to sell on without a lease extension?
  • I am looking to buy a one bed flat in Bubwith for asking price of 156k, which has fivety six years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • 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?
  • I am the freeholder of a Edwardian property split into two flats. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 70 years. What are my next steps?
  • If somebody owns a flat with a lease of under 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'm intent on buying a flat in Bubwith valued at £256,000 the flat has just under 70 years unexpired on the lease. I put in an offer conditional upon a lease extension... .. that was back in September, hoping I'd be in before Christmas. The seller has just come back saying that they are prepared to reduce the price by£7k if I deal with the lease extension myself. I'm unsure whether that's a good idea
  • I have seventy two years remaining on my lease of a ground floor flat in Bubwith, 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

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