Questions and Answers: Covent Garden Lease Extensions

  • I am looking for a rough estimate of what a lease extension will cost for a flat I intend to purchase. It has fivety nine years left.
  • I am looking to either purchase the freehold or a lease extension of my property in Covent Garden and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a refinance with Birmingham Midshires to release of equity. The broker handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold purchase .The lease started in 1972 and since then the ground rent has been raised from £38.00 per annum to £200 per year.
  • What will I need to spend and what is the best way to start the lease extension process? I have nearly 79 years remaining on my lease on a studio flat in Covent Garden. I have emailed the agent who represent the freeholder and they sent me the number of the surveyor. I have contacted the surveyor but I am not getting any calls back.
  • My mortgage provider is requesting a £500 fee for their for a "deed of substituted security" for the lease extension for my flat in Covent Garden... I am unable to find any reference of this in my mortgage literature... is this a usual fee to pay?
  • I am looking for advice as I am interested in a property that has only a 66 year lease and therefore requires a lease extension. Is it possible for me to call someone to discuss my options please?
  • Me and my husband would like to know the cost of a lease extension valuation for a property based in Covent Garden. Is this something you can assist us with?
  • I'm living with my parents but have a one bedroom first floor purpose built maisonette in Covent Garden let out which has a seventy 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 Covent Garden 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 21k. Not sure sure whether to hold on or sell the flat?
  • Are you able to provide an estimate to extend my mother’s lease on a ground floor flat in Covent Garden. She already has a price from the landlord for a lease extension but I am not sure it is too expensive.
  • I am currently in the process of refinancing my ground floor flat in Covent Garden and the new lender that I am looking to move to needs a minimum 80 years on the leasehold of my property in order for them to take the mortgage forward. We currently have around 79 years on the leasehold so require some help, guidance, and some quotes to get the wheels in motion for a lease extension
  • Do you handle lease extensions on land? (a plot of land in Covent Garden with 82yrs remaining)

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