Questions and Answers: Earlswood Lease Extensions

  • I have shares in the freehold of buildings comprising of seven flats each. 2 of the leasehold owners want to extend their leases and I'm enquiring about the procedure for this
  • I need to talk to you about an apartment in Earlswood, I am thinking of bidding at auction in the next few days. The flat has a short lease and I am curious about how much it would cost to get a lease extension and for your services.
  • In 2012 I purchased a leasehold apartment in Earlswood. I have built a big extension and have not informed the freeholder. What should I do?
  • Are you able to advise on the likely expense and the optimum way to start the lease extension process? I have slightly more than 72 years outstanding and I own a garden flat in Earlswood.
  • My mortgage provider is requesting several hundred pounds for their for a "deed of substituted security" for the lease extension for my flat in Earlswood... I can find no reference of this in my mortgage contract... is this a usual charge?
  • Me and my partner would like to know the cost of a lease extension valuation for a property based in Earlswood. Is this something you can assist us with?
  • Coming up to two years that I have owned my studio flat in Earlswood. I have seventy seven yrs remaining on the lease. I am now wanting to buy a share of freehold or a lease extension. I purchased the property for 342K, it is now roughly 450k. 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: Is there a benefit in getting a Earlswood based or any will do fine?
  • If a leaseholder owns a flat with a lease of under 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?
  • I am the freeholder of a property in Earlswood and a leaseholder would like a lease extension. Her so called valuation expert has given a figure of £9,000, but has increased this by £2,000 without too much effort. My surveyor has recommended a much higher figure. Negotiations have broken down so it looks at though we need to go to LVT. If a lease extension does go to a FTT, can I handle the matter myself, just equipped with the valuations I have? If not, what fee would I be likely to face?
  • I know that others in the same block had already had a lease extension, and the landlord was amenable. It therefore appears worth taking risk of not having formal survey and base the initial offer on on the prices by others . This would save on double valuation charges. Is this advisable?

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