Questions and Answers: East Coker Lease Extensions

  • I’m about to offer on a ground floor flat to buy in the East Coker area and was interested in finding out how much would it cost for a lease extension? It has 67 years residual lease term...
  • I am in need of a rough estimate of what a lease extension will cost for a flat I intend to purchase. It has fivety eight years outstanding.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • I have contacted my freeholder to extend my lease for my flat in East Coker. His has been in contact with charges etc. I need a quote for dealing with the legalities to secure a lease extension. The flat currently has a 99 YR lease which started January 1994.
  • I am a first time buyer of a leasehold flat in East Coker. The lease has just fivety six years residual lease term and ground rent is £25. Is it possible for the vendor to serve the Section 42 Notice and then assign over the right to me as the purchaser on the day of completion so that I don't have to wait for the 2 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 the freeholder is absent, so I am not sure how does it work.
  • I own a purpose-built apartment located in a large development in East Coker. The leasehold interest in the flat on a 101 year lease which commenced on 11th October 1980 with a fixed yearly rent of 45. I would like to obtain a lease extension. Is it possible for me to call someone to discuss my options please?
  • Just been over two years that I have been in my maisonette in East Coker. I have 73 yrs left on the lease. I am now looking either to purchase a share of freehold or a lease extension. I purchased the property for 320K, 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: What can I expect in terms of surveyors charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process drags to LVT)?
  • If somebody 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 doing it?
  • We currently own a three bedroom second floor purpose built flat in East Coker and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has fivety eight years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer some advice on this? Do I contact the freeholder first and will they be able to give me a cost?
  • I have sixety eight years remaining on my lease of a ground floor flat in East Coker, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable

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