FAQs concerning Chorleywood Lease Extensions

  • My OH and I have just completed on a one bedroom apartment located inChorleywood and I'm thinking about a lease extension as soon as practicable e.g. after 24 months of ownership
  • I am about to put an offer in on a garden flat in Chorleywood with a lease of 70 years but not sure how much it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • I have contacted my freeholder to extend my lease for my flat in Chorleywood. His has been in contact with charges etc. I need a ball park figure for dealing with the legalities to secure a lease extension. The flat currently has a 99 YR lease which started July 1993.
  • I am going to purchase a flat located in Chorleywood. My offer is subject to the lease extension. The homeowner’s 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?
  • I am looking to either purchase the freehold or a lease extension of my property in Chorleywood and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a remortgage with HSBC Bank to release of equity. The adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold acquisition .The lease started in 1972 and since then the ground rent has increased from £38.00 per annum to £125 per annum.
  • I will soon 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 sixety five years balance left on the lease. It is also a repo so I'm guessing that the bank will not be interested in extending the lease. My primary concern is would the short lease make it difficult to secure a mortgage?
  • We have a one bedroom flat based in Chorleywood. There is 80 years to run on the lease and we want a lease extension. How much will it likely cost to extend in this area by, say,45 years
  • I own a share of the freehold. There are five apartments in the building. All the leaseholders are now requiring lease extensions. What are the timescales to grant a lease extension?
  • Me and my OH have owned a leasehold flat for approximately twenty years. It now has 67 years left on the lease. Following a year of protracted negotiations through my and, mainly, surveyor I now have an offer from the landlord. I am at a decision point on whether to accept it or go to LVT and would appreciate advice.

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