Coven Lease Extensions

Sample questions relating to Coven Lease Extensions

I have shares in the freehold of buildings comprising of seven flats each. 2 of the leaseholders want to extend their leases and I'm enquiring about the procedure for this

My wife has a flat in Coven which we have just put on the market. The leasehold has around seventy years residual lease term on it and we are concerned this will come up for anyone who may be interested. I am interested in more information on how we commence arranging a lease extension? Thank you.

We have seen a house for sale for £185,000 and we are very interested but we've just discovered that it is leasehold. There are 798 years left 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 true? We wouldn't want to pay a mortgage for 25 years without owning the property. Any guidance would be much appreciated.

I am going to purchase a flat located in Coven. My offer is conditional upon a lease extension. The current owner’s has given to the freeholder the Notice of Claim. 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 Coventry Building Society. Moreover, which are the following lease extension steps to complete the purchase?

We hope to sell our garden flat in Coven but we may require a lease extension, or at least cover the costs of our purchaser. Can you suggest a to undertake the legal formalities?

The terms for the lease on my flat in Coven are 99 years from 10 Sep 1980. Can you provide me a quote to extend the lease if I give you more information please?

I am considering whether to purchase the freehold or a lease extension of my property in Coven and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously remortgage with Birmingham Midshires to release of equity. My adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for outright acquisition .The lease commenced in 1972 and since then the ground rent has been raised from £15.00 per annum to £125 per year.

I am a landlord of a block of flats in Coven, and the tenants are in the process of being granted lease extensions. I anticipate receiving funds next week. As I am not on self assessment do I get in touch with the tax man ?

My partner and I have a leasehold flat in Coven with 60 years remaining. Ten months ago we were quoted a deal to grant a lease extension for another thirty years but also increase ground rent from notional to a little more..plus a premium I think of about 10k. Finally we have decided to move forward but do we now have to renegotiate?

If somebody owns a flat with a lease of less than 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not extending the lease?

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