Common questions relating to Harborne Lease Extensions

  • My name´s George. I’m house hunting in Harborne I'm considering offering on a ground floor flat online, with around 72 years remaining, how much does it cost on average to extend in this location by, say, twenty years?
  • I have got a leasehold flat in the Harborne area and was wondering whether I could get a lease extension. What are your processes and fees. Has sixety nine years unexpired
  • I am looking to purchase a one bedroom apartment in Harborne with a lease of 60 years but not sure what I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
  • I am looking into the costs of carrying out a lease extension for my one bedroom apartment in Harborne, and would like some figures on that.
  • I am a first time buyer of a leasehold flat in Harborne. The lease has only seventy six years left and ground rent is £50. Is it possible for the owner to serve the Initial Notice and then assign over the right to me as the purchaser once I complete the buying process so that I don't have to wait for the 2 year requisite 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 vendor? Unfortunately the landlord can not be found, so I am not sure how this will play out.
  • What will I need to spend and what is the best way to start the lease extension process? I have just under sixety three years unexpired lease on my lease on a garden flat in Harborne. I have contacted the managing agents who act on behalf of the landlord and they sent me the number for the valuer. I have contacted the surveyor but I am not receiving any returned calls.
  • If a leaseholder 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 doing it?
  • My OH and I are in the throws of buying a property (a garden flat located inHarborne with share of freehold). Throughout our search, we were always looking at flats that had at least eighty five years unexpired. We found a apartment we liked and the estate agent assured that the lease term was not an issue. Yesterday our advised us the lease only has 59 years and therefore needs a lease extension. Should we run away, or do we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?
  • We currently own a garden flat in Harborne and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has 78 years left. Not sure what to do, have read some bits on the web saying it will be 15k plus to get a lease extension. Do you have some advice on this? Do I contact the landlord first and will they be able to give me a cost?
  • I am currently negotiating a lease extension for my flat in Harborne 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?

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