Questions and Answers: Chilwell Lease Extensions

  • I’m just looking for a one bedroom apartment to purchase in the Chilwell area and was interested in finding out what the likely fees would be for a lease extension? It has 76 years unexpired...
  • I am fairly sure that our has advised us incorrectly concerning a lease extension and I want to find out how to complain
  • I inherited a 2 bed flat located in Chilwell with a leasehold unexpired of seventy six years. I am wondering about how much I will need to spend to extend my leasehold
  • I am looking to either purchase the freehold or a lease extension of my property in Chilwell and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with Platform Home Loans Ltd to release of equity. The adviser handling the remortgage suggested I get two estimates : one to extend the lease and one for the freehold acquisition .The lease began in 1979 and since then the ground rent has been raised from £25.00 per year to £200 per annum.
  • I am about to view a one bedroom maisonette, although not exactly my dream property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has 62 years residual lease term on the lease. It is also a repossession so I'm assuming that the lender will not be interested in extending the lease. My main concern is would the short lease make it difficult to secure a mortgage?
  • I am thinking about buying an auction property and found a studio flat in Chilwell. It only has a fifty year lease..the seller being mortgagees in possession dont want to mess around with seeking a lease extension..what are the drawbacks of this except for the huge fee to extend the lease and decreased chance of obtaining a mortgage with Norwich and Peterborough Building Society?
  • Me and my wife are considering buying a ground floor flat in Chilwell which is a leasehold. I am wondering what are the pros and cons of that - what happens when lease ends, the cost of a lease extension, can the freeholder of the land evict me from my own flat and prevent me from having a lease extension?
  • I intend to buy a one bed flat in Chilwell for asking price of 125k, which has sixety 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 the freeholder 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?
  • We are purchasing a one bedroom first floor purpose built flat in Chilwell which has share of freehold and a leasehold. The lease was starting to get low so the owner is in the process of extending the lease. The vendor has submitted the lease extension paperwork to HMLR. An essential part of the conveyancing process is for our to do a "priority search" on the lease. 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 property title number has not been issued. Is it correct that we must hold on pending registration of the new lease?
  • We are hoping to acquire a property (a one bed flat inChilwell with share of freehold). During our search, we were always looking at flats that had a minimum ninety years remaining. We found a flat we liked and the estate agent assured that the lease term was not an issue. This morning our advised us the lease only has 60 years and therefore requires a lease extension. Do we walk away, or should we negotiate our offer?

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