Examples of recent questions relating to Lease Extensions in Cricklewood

  • We have seen a house for sale for £185,000 and we are very keen on but we've just found out that it is leasehold. There are 899 years residual lease term so a lease extension is not an issue. 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 twenty years without the house being ours. Any advice would be much appreciated.
  • I bought a one bed flat in Cricklewood. I am looking for a lease extension on the property. It is just over 80 years. I would just like to know what your charges are and how long it would take for completion.
  • I am deliberating whether to purchase the freehold or a lease extension of my property in Cricklewood and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with Yorkshire Building Society to free up equity. My broker handling the remortgage suggested I get two estimates : one for the lease extension and one for the freehold acquisition .The lease started in 1981 and since then the ground rent has increased from £38.00 per year to £100 per annum.
  • I am concerned that my daughter is being hoodwinked. She put in an offer on a garden flat in Cricklewood, where the lease is nearly 73 years but she was informed by the selling agents that the flat owner had extended it to 125 years. Only now has she been told the current owner was waiting for her to instruct conveyancers before commencing with the lease extension. Sounds underhand, also it may take a while to sort it all out. What do you think?
  • I own a share of the freehold. There are four flats in the block. All the leaseholders are now seeking lease extensions. Are you willing to assist us with this situation?
  • I'm living at mum and dad but have a garden flat in Cricklewood let out which has a fivety 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 Cricklewood 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?
  • Just been over 2 years that I have owned my studio flat in Cricklewood. I have 78 yrs unexpired lease on the lease. I am now looking either to buy a share of freehold or extend my lease. I acquired the property for 320K, it is now roughly 425k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of financing - do they add it to their existing mortgage or pay it out in cash?
  • 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 doing it?
  • I'm intent on purchasing an apartment in Cricklewood valued at £256,000 the flat has approximately 69 years remaining on the lease. My offer was subject to the lease being extended... .. that was back in September, expecting I'd be in by now. They have just informed the agent they are willing to reduce the price by£2k if they don't have to deal with the lease extension. I'm not sure whether that's a good idea
  • I own the freehold reversion of a property in Cricklewood and a leaseholder would like a lease extension. Her valuer has given a figure of £9,000, but has increased this to £10,000 at the drop of a hat. My surveyor has come back with £12,520. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just armed with the valuations I have? If not, what charges would I be likely to incur?

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