Questions and Answers: Budleigh Salterton Lease Extensions

  • I have shares in the freehold of 2 blocks of flats comprising of seven flats each. Two of the leaseholders want a lease extension and I'm curious about the procedure for this
  • I am about to put an offer in on a garden flat in Budleigh Salterton with a lease of 59 years but unsure how much I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
  • The intention is to sell our one bed flat in Budleigh Salterton but we may need a lease extension, or possibly cover the costs of our purchaser. Can you suggest a to handle this?
  • What will it cost me and what is the best way to start the lease extension process? I have just over 55 years outstanding on my lease on a ground floor flat in Budleigh Salterton. I have contacted the agent who act on behalf of the head landlord and they gave me the number for the valuer. I left a phone message for the valuer but I am not getting any calls back.
  • I am considering buying an auction property and came upon a two bed flat in Budleigh Salterton. It only has a 41 year lease..the current owner being mortgagees in possession dont want the aggravation of applying for a lease extension..what are the disadvantages of this except for the huge fee to put a new lease on it and reduced chance of obtaining a mortgage with Halifax?
  • 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 extending the lease?
  • Me and my fiance are buying a maisonette in Budleigh Salterton which has share of freehold and a leasehold. The lease was starting to get low so the vendor commenced dealing with a lease extension. The seller’s lawyer has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the conveyancing process is for our to do a pre-completion search on the property title. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number has not been issued. Is it correct that we have to be patient pending registration of the new lease?
  • Just a quick question, how much is the premium payable for a lease extension on a residential property in Budleigh Salterton for a one bed flat - sec 42 having been issued?
  • I own the freehold reversion of a property in Budleigh Salterton where the leaseholder would like a lease extension. Her so called valuation expert has provided a figure of £8,000, but has upped this by £2,000 at the drop of a hat. My valuer has suggested a much higher figure. She does not appear to wish to negotiate wanting to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what fee would I be likely to incur?
  • Do you handle lease extensions on land? (a plot of land in Budleigh Salterton with 82yrs remaining)

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