Frequently asked questions relating to Frogmore Lease Extensions

  • My co-lessees and I are in a block of three flats in Frogmore and have been offered to buy the freehold for 7k per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • I am looking to either purchase the freehold or a lease extension of my property in Frogmore and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a get a new mortgage with Santander to release of equity. The adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold purchase .The lease commenced in 1972 and since then the ground rent has increased from £15.00 per year to £125 per year.
  • I am a FTB of a leasehold flat in Frogmore. The lease has only 64 years unexpired and ground rent is £25. Is it possible for the flat owner to serve the Initial Notice and then transfer over the right to me as the buyer once I complete the buying process 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 flat owner? Unfortunately the freeholder is absent, so I am not sure how does it work.
  • I am a freeholder of a block of flats in Frogmore, and the leaseholders are in the process of being issued lease extensions. I anticipate receiving funds within a month or so. As I am not on self assessment do I contact the tax man ?
  • My husband and I are considering purchasing a three bed flat in Frogmore which is a leasehold. I am wanting to weigh up the advantages and disadvantages of that - what occurs when lease ends, the cost of a lease extension, can the freeholder of the land evict me from my own flat and prevent me from having a lease extension?
  • I am planning to get a lease extension and am wondering which step I have to do first, I have been previously advised that I have to have the finances in place before I initiate the process, is this correct?
  • I am looking to buy a one bed flat in Frogmore for asking price of 125k, which has 70 years lease left on it. Seller doesn't want to extend the lease for even if I were to pay the money to the seller. My query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • I an interested in finding out more about leasehold property buying. We hope to buy a 1920s detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Frogmore area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to sublet the property?
  • I am planning on remortgaging my garden flat in Frogmore and the new lender that I am looking to move to requires at least 85 years on the leasehold of my property in order for them to take the mortgage forward. I have found that I currently have around seventy five years on the leasehold so require some help, guidance, and some quotes to start the lease extension process

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