Frequently asked questions relating to Finsbury Lease Extensions

  • My wife and I are looking for lease extension for our leasehold house in Finsbury and we don't fully comprehend the communication that we got from our landlord company. What's your solicitors fee?
  • Do you only advise on lease extensions in Finsbury? I own a flat in Abbey Wood with 90 years left, I am looking for a quote from a .
  • I am deliberating whether to purchase the freehold or a lease extension of my property in Finsbury and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with Barclays Direct to free up equity. The adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold acquisition .The lease started in 1981 and since then the ground rent has been raised from £38.00 per year to £125 per year.
  • I will soon view a one bedroom maisonette, although not exactly my ideal property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has 54 years left on the lease. It is also a repossession so I'm assuming that the lender will not be interested in doing a lease extension. My main concern is would it be difficult to sell on without a lease extension?
  • I have my suspicions that my niece is being hoodwinked. She put in an offer on a studio flat in Finsbury, where the lease is around 62 years but she was informed by the estate agents that the seller had extended it to 125 years. She has now been advised the homeowner was waiting for her to appoint solicitors prior to commencing with the lease extension. Seems odd to me, also it will take time to sort it all out. Am I being too sceptical?
  • We have owned a leasehold flat for around fifteen years. There are sixety five years left on the lease. After a year of difficult negotiations through my and, mainly, surveyor I now have an offer from the landlord. I am at a decision point on whether to accept it or go to a Tribunal and would welcome some independent thoughts.
  • My fiance and I are hoping to buy a home (a ground floor flat based inFinsbury with share of freehold). Throughout our search, we were always looking at properties that had at least eighty five years outstanding. We came across a place we fell in love with and the estate agent assured that the lease was long albeit not specifying a number. Today our told us the lease only has sixety two years and therefore requires a lease extension. Should we walk away, or do we reduce our offer?
  • I am the freeholder of a property in Finsbury and a leaseholder has requested a lease extension. Her valuer has given a figure of £9,000, but has upped this to £10,000 at the drop of a hat. My surveyor has come back with £12,520. Negotiations have broken down so it looks at though we need to go to LVT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what charges would I be likely to incur?
  • I'm hoping for some advice concerning a lease extension on my maisonette. I'll be looking to do this in nine months time as we must move then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the LVT route. You are able to recommend a good with expertise in lease extensions. Ideally someone in Finsbury area?
  • I am currently negotiating a lease extension for my flat in Finsbury 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?

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