Burnham Market Lease Extensions: Q and A’s

  • I have shares in the freehold of 2 blocks of flats comprising of seven flats each. 2 of the leasehold owners want a lease extension and I'm curious about the the process
  • We have seen a house for sale for £215k and we are very interested but we've just found out that it is leasehold. There are 928 years left so a lease extension is not an issue. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this true? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any advice would be much appreciated.
  • I would like to have my residential flat leasehold extension premium valued. The flat is in Burnham Market, and my lease will reach sixety three years this July. Could you advise me about the costs and time-frame to obtain an appraisal? Also, do you represent your clients at the Tribunal court?
  • Is it possible to talk with you about a leasehold property in Burnham Market, I am thinking of buying at auction next month. The flat has a short lease and I was wondering about how much it would cost to get a lease extension and for your services.
  • I am looking to either purchase the freehold or a lease extension of my property in Burnham Market and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously get a new mortgage with Bank of Scotland to free up equity. The broker dealing with the remortgage suggested I get two quotes : one for the lease extension and one for outright acquisition .The lease began in 1981 and since then the ground rent has increased from £25.00 per annum to £300 per year.
  • Are you able to advise on the likely cost and the optimum way to start the lease extension process? I have slightly more than sixety eight years unexpired lease and I own a one bedroom apartment in Burnham Market.
  • I am a freeholder of a block of flats in Burnham Market, and the leaseholders are in the process of being issued lease extensions. I anticipate receiving funds next month. As I am not on self assessment do I write to the tax man ?
  • I intend to buy a one bed flat in Burnham Market for asking price of 156k, which has seventy two years lease left on it. Seller doesn't want to extend the lease for even if I were to pay the money to the seller. My question 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?
  • Me and my OH would like to know the cost of a lease extension valuation for a property based in Burnham Market. Is this something you can help us with?
  • We have a three bed flat in Burnham Market with a lease of 72 years left with a value of around £290000 we want to add 125 years to it, how much is that likely to cost?

    • Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Burnham Market