Bures Lease Extension - Your Legal Fees Calculator
Bures Lease Extensions: Q and A’s
I own a flat in Bures with a leasehold unexpired circa 66 years and need to extend it. Please can you advise me of the next stages
We bought a leasehold with a freeholder who has failed to give us a counter-notice for a lease extension for our flat in Bures and are therefore thinking about the option of a vesting order. Is this something you can help us with?
I am considering whether to purchase the freehold or a lease extension of my property in Bures and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a get a new mortgage with Barnsley Building Society to free up equity. The adviser handling the remortgage suggested I get two estimates : one for the lease extension and one for outright purchase .The lease began in 1972 and since then the ground rent has increased from £38.00 per annum to £200 per year.
I am about to view a one bedroom flat, although not exactly my dream 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 seventy three years remaining on the lease. It is also a repossession so I'm guessing that the bank will not be interested in doing a lease extension. My primary concern is would the short lease make it difficult to secure a mortgage?
Are you able to advise on how much it would charges and the best way to get a lease extension started? I have around seventy nine years left and I own a two bedroom ground floor purpose built flat in Bures.
I am considering purchasing an auction property and found a one bed flat in Bures. It only has a 50 year lease..the seller being mortgagees in possession dont want the aggravation of seeking a lease extension..what are the drawbacks of this other than the costly fee to extend the lease and reduced chance of getting a mortgage with Clydesdale?
We have a GFF in Bures. There is 81 years remaining on the lease and we want to extend the lease. How much does it cost on average to get a lease extension by, say,45 years
My conveyancing practitioners (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?
My brother and I would like to know the cost of a lease extension valuation for a property based in Bures. Is this something you can help us with?
My wife and I are aware that others in the same building previously had a lease extension, and the freeholder was amenable. Therefore is seems worth taking risk of avoiding a formal survey and calculate the initial offer on previous prices . This would save on double valuation fees. Would you recommend such a course of action?