Questions and Answers: Erdington Lease Extensions

  • My name´s Daniel. I’m property hunting in Erdington I'm thinking about offering on a one bedroom apartment online, with roughly 60 years remaining, how much does it cost on average to extend in this area by, say, fifty years?
  • I am looking to buy a three bedroom first floor purpose built maisonette in Erdington with a lease of 67 years but unsure how much I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
  • I will soon view a two bedroom flat, although not exactly my dream property it has enough positives to suit me very well for my present circumstances. However after obtaining a copy of the title I've learnt that it only has fivety four years unexpired on the lease. It is also a repossession so I'm guessing that the lender will not be interested in extending the lease. My primary concern is would the short lease make it difficult to secure a mortgage?
  • I am looking at acquiring an auction property and identified a one bed flat in Erdington. It only has a 48 year lease..the seller being mortgagees in possession will not want to mess around with applying for a lease extension..what are the disadvantages of this except for the expensive fee to put a new lease on it and decreased chance of getting a mortgage with Nationwide Building Society?
  • Offer accepted on a a three bed flat in Erdington, were told numerous times by the EA that the lease had over 100 years, we have just had our mortgage offer come through which states the lease as 85 years.Contracts were due to be exchanged in a couple of days. My question is Have the estate agents breached any law by misrepresenting the position concerning the lease term?
  • My son has a share of freehold, with two other leaseholders in a building in Erdington. House split into three flats. He has a lease, which has roughly seventy six yrs outstanding. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?
  • I'm living with my mother and father but have a maisonette in Erdington let out which has a seventy seven 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 Erdington 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 13k. Should I keep or sell the flat?
  • Although I do not need a lease extension but I do require a vesting order on a property I want to buy in Erdington. The house is freehold but the garden is officially leasehold, Nine hundred and ninety nine year lease from 1889. Its the rear garden.
  • I am the registered freeholder to two flats. Someone has the lease on the ground flat in Erdington. I reside in the upper flat. I was reviewing the land registry documents yesterday when I noticed that my flat is leasehold. There is seventy two years unexpired. If I want a lease extension then would I just be paying for the costs?
  • Do you handle lease extensions on land? (a plot of land in Erdington with 82yrs remaining)

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