Caergwrle Lease Extension - Your Legal Fees Calculator
Caergwrle Lease Extensions: Q and A’s
I agreed with the head landlord for a lease extension on our flat based in Caergwrle, 7.5k for an additional 90yrs. Are you able to help us with this situation ?
I am in need of a rough estimate of what a lease extension will cost for a flat I would like to purchase. It has 68 years unexpired.
We have seen a house for sale for £195k and we are very interested but we've just found out that it is leasehold. There are 899 years remaining so a lease extension is not a concern. 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 correct? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any advice would be much appreciated.
I am going to purchase a flat in Caergwrle. My offer is conditional upon a lease extension. The vendor’s conveyancing practitioners 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 Lloyds TSB Bank. Moreover, which are the following lease extension steps to complete the purchase?
The terms for the lease on my flat in Caergwrle are 101 years from 14 Sep 1989. Can you provide me a quote for a lease extension if I give you more information please?
I am deliberating whether to purchase the freehold or a lease extension of my property in Caergwrle and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously get a new mortgage with Birmingham Midshires to free up equity. The adviser handling the remortgage suggested I get two estimates : one to extend the lease and one for outright acquisition .The lease commenced in 1981 and since then the ground rent has increased from £15.00 per annum to £300 per year.
I am planning to get a lease extension and am wondering what step I have to do first, I have been previously told that I have to have the finances in place before I commence the process, is this correct?
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?
I am the freeholder of a Georgian property split into two flats. I reside in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current seventy four years. What are my next steps?
We know that others in the same building previously had a lease extension, and the landlord seemed amenable. Therefore is seems worth taking risk of not having formal survey and base the initial offer on on the premiums paid by others . This would save on double valuation fees. Is this advisable?