Darnall Lease Extension - Your Legal Fees Calculator
Top Ten Questions relating to Darnall Lease Extensions
I invested in buying a property in Darnall and it has circa seventy five years residual lease term. I'd like to extend the lease period
Hi. I need someone to have a look at my lease extension prior to it being formalised just to ensure there's nothing that I haven't seen - it's just a reissue with a few small changes.
We purchased a leasehold with a freeholder who has not given us a counter-notice for a lease extension for our flat in Darnall and looking to do a vesting order. Is this something you can help us with?
I am a first time buyer of a leasehold flat in Darnall. The lease has only 76 years left and ground rent is £95. Is it possible for the flat owner to serve the Section 42 Notice and then assign over the right to me as the purchaser once I complete the buying process so that I don't have to wait for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this may be possible but will it be very time consuming to the homeowner? Unfortunately it’s the case of an absent freeholder, so I am not sure how this will play out.
My partner and I have a first floor flat in Darnall with 55 years left. Ten months ago we were quoted a deal to grant a lease extension for a further 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 proceed but do we now have to renegotiate?
My conveyancers (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
Coming up to 2 years that I have been in my two bedroom ground floor purpose built maisonette in Darnall. I have fivety four years remaining 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 lawyers 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?
It says on your website the likely fee to extend a lease is £495. Is that the total cost including vat and the HMLR fee? The premium has already been negotiated with the freeholder for the lease extension for my garden flat in Darnall
I am currently negotiating a lease extension for my flat in Darnall as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?
We have a garden flat in Darnall with a lease of 55 years left with a value of around £370000 we want to add 90 years to it, how much is that likely to cost?