Sample questions relating to Finedon Lease Extensions

  • I have a lease of 58 years on a property which I am looking to buy how much am I looking at for the cost to extend the lease?
  • I am about to view a one bedroom maisonette, although not exactly my dream property it has enough positives to suit me very well for my present situation. However after downloading a copy of the title I've learnt that it only has 77 years unexpired on the lease. It is also a repo so I'm assuming that the vendor will not be interested in extending the lease. My main concern is would it be difficult to sell on without a lease extension?
  • We had entered into buying a garden flat in Finedon. I was advised by the EA that the lease extension had already been completed while on a viewing (72 years unexpired lease prior to extension). The sales particulars said "sold with a long lease". It turns out at the point of exchange of contracts we find that there has been no lease extension. The current owner apparently has a quote but no finances to extend as a result the flat owner intends to exchange and use the 10% deposit for the lease extension. My question is why has this only just been brought to my attention by my ?
  • I am looking to buy a one bed flat in Finedon for asking price of 125k, which has seventy three years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
  • I am the freeholder of a Edwardian property split into two apartments. I live in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current fivety eight years. What are my next steps?
  • I'm living at parents but have a three bed flat in Finedon let out which has a seventy 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 Finedon 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?
  • 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 extending the lease?
  • My wife and I are hoping to purchase a home (a one bedroom apartment based inFinedon with share of freehold). During our search, we were always looking at properties that had a minimum 84 years residual lease term. We identified a apartment we fell in love with and the selling agent promised us that the lease was long albeit not specifying a number. Yesterday our advised us the lease only has sixety three years and thus requires a lease extension. Do we run away, or do we negotiate our offer?
  • I know that others in the same building previously had a lease extension, and the landlord was reasonable. Therefore is seems worth taking risk of not having formal survey and calculate the initial offer on on the premiums paid by others . This would save on double valuation charges. Would you recommend this course of action?
  • We have a maisonette in Finedon with a lease of 63 years left with a value of around £370000 we want to add 90 years to it, how much is that likely to cost?

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