FAQs concerning Great Wyrley Lease Extensions

  • We have just purchased a garden flat inGreat Wyrley and I'm deliberating extending the lease as soon as I can e.g. after a couple of years
  • I want to buy a leasehold property and lease extension. The vendor has been there over two years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • I'm looking for an apartment to purchase in Great Wyrley and I'm not really familiar with the leasehold title. I've found a studio flat I like with a 90 years lease. My research reveals that I can go for a lease extension after 2 years, but:- Should I anticipate any issue with my proposed mortgage lender Yorkshire Building Society?
  • I am a freeholder of a block of flats in Great Wyrley, and the leaseholders are in the process of being issued lease extensions. I should hopefully get the money within a month or so. How does the tax work, the property is co-owned with my husband ?
  • My husband and I have a leasehold flat in Great Wyrley with sixety eight years to run. Ten months ago we were quoted a deal to receive a lease extension for another 25 years but also uplift the ground rent from nominal to a little more..plus a premium I think of approximately 9k. Finally we have decided to move forward but do we now have to renegotiate?
  • I am planning to get a lease extension and am wondering what step I have to do first, I have been previously advised that I have to have the finances in place before I commence the process, is this correct?
  • I do not need a lease extension but I do need a vesting order on a property I want to purchase in Great Wyrley. The house is freehold but the garden is officially leasehold, 995 year lease from 1889. Its the rear garden.
  • 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?
  • I am planning on remortgaging my garden flat in Great Wyrley and the new lender that I am looking to switch to requires a minimum 85 years remaining on the lease in order for them to take the mortgage forward. I have discovered that I currently have around seventy three years on the leasehold so require some advice, guidance, and some quotes to start the lease extension process
  • I have a lease of seventy five years remaining on my flat in Great Wyrley. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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