Questions and Answers: Burwell Lease Extensions

  • The terms for the lease on my flat in Burwell are 95 years from 12 Jan 1988. Can you provide me a quote for a lease extension if I give you more information please?
  • Is it possible to talk with you about a flat in Burwell, I am considering buying at auction next week. The flat has a short lease and I wanted to inquire 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 Burwell and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a remortgage with Yorkshire Building Society to release of equity. My broker handling the remortgage suggested I get two quotes : one to extend the lease and one for the freehold purchase .The lease started in 1981 and since then the ground rent has been raised from £25.00 per annum to £300 per annum.
  • I'm looking for a flat to buy in Burwell and I'm not really familiar with the leasehold concept. I've found a one bedroom apartment I like with a 90 years lease. I've read that I can go for a lease extension having owned the property for 2 years, but:- Should I anticipate any issue with my proposed mortgage lender Yorkshire Building Society?
  • My wife and I have a leasehold flat in Burwell with 58 years remaining. Last year we were quoted a deal to have a lease extension for another fifty years but also uplift the ground rent from nominal to £300 per year..plus a premium I think of about 16k. Finally we have decided to proceed but do we now have to renegotiate?
  • We wish to extend our lease. We will have been in the flat for two years as of 22nd Feb 2016. It has approximately 70 years remaining currently. Hoping to get a lease extension by another 90 years as expeditiously and stress free as is reasonably achievable.
  • My partner and I had entered into buying a three bed flat in Burwell. I was advised by the EA that the lease extension had already been completed while on a viewing (seventy years remaining prior to extension). The sales particulars stated "sold with a long lease". It turns out at the point of exchange of contracts we find that there has been no lease extension. The current owner apparently has a quote but no funds to extend as a result the current owner wants to exchange and use the 10% deposit to extend the lease. My question is as the lease hasn't been extended is there not a danger that it would breach my lenders lease length criteria?
  • I am looking to buy a one bed flat in Burwell for asking price of 156k, which has seventy three 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 query is: If landlord does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • I'm living at mum and dad but have a one bedroom apartment in Burwell let out which has a fivety 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 Burwell 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?
  • It says on your website the anticipated fee for dealing with a lease extension is £495. Is that the total cost including vat and the land registry fee? The price has already been negotiated with the freeholder for the lease extension for my ground floor flat in Burwell

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