Questions and Answers: Bulwell Lease Extensions

  • I'm planning to make an offer on a house in Bulwell but I'm concerned about it being leasehold. Do you know what title absolute means and is this regarding the lease? Also, we have asked to see a copy of the lease but the homeowner said they might not have it. We are worried about restrictions, and dont know what to do. We have also been approved for the mortgage but the lender doesn't know its leasehold. Do houses qualify for lease extension? Will this affect Chelsea Building Society giving us the mortgage now?
  • I am going to purchase a flat based in Bulwell. The offer is subject to the lease extension. The vendor’s has served the Section 42 Notice. 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 Birmingham Midshires. Moreover, which are the following lease extension steps to complete the purchase?
  • The intention is to sell our garden flat in Bulwell but we may need to extend the lease, or at least cover the costs of our purchaser. Can you help me find someone to assist?
  • I'm deliberating over buying a ground floor flat (leasehold) but the landlord has been absent for circa 15yrs. I wonder whether it will be less expensive to try to purchase the freehold or to get a lease extension and apply for RTM?
  • I inherited a ground floor flat in Bulwell. I am looking for a lease extension on the property. It is around 80 years. I would just like to know what your charges are and how long the process takes.
  • Is it possible to talk with you about a leasehold property in Bulwell, I am considering bidding at auction in the next few days. 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 will soon view a one bedroom apartment, although not exactly my perfect property it has enough positives to suit me very well for my present situation. However after obtaining a copy of the title I've learnt that it only has 74 years left on the lease. It is also a repossession so I'm assuming that the vendor will not be interested in doing a lease extension. My primary concern is would the short lease make it difficult to secure a mortgage?
  • I own a purpose-built flat based in a small block in Bulwell. The leasehold interest in the apartment on a 101 year lease started from 30th November 1972 with a set ground rent of £25 per annum. I wish to obtain a lease extension. Can I talk with someone to go through my options please?
  • I'm living at mother and father but have a maisonette in Bulwell let out which has a sixety nine 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 Bulwell 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 19k. Not sure sure whether to hold on or sell the flat?
  • We are acquiring a ground floor flat in Bulwell which has share of freehold and a leasehold. The lease was on the short side so the seller commenced extending the lease. 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 house buying process is for our to do OS1 search on the property title. The concern 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 lease title number has not been issued. Is it correct that we have to be patient until the new lease is registered?

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