Questions and Answers: Harold Park Lease Extensions

  • We have seen a house for sale for £185,000 and we are very interested but we've just found out that it is leasehold. There are 798 years balance left so a lease extension is not an issue. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this true? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any guidance would be much appreciated.
  • I purchased a one bed flat in Harold Park with a leasehold unexpired of sixety six years. I am curious about what I will need to spend to extend my lease term
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Harold Park and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously remortgage with Norwich and Peterborough Building Society to release of equity. My adviser handling the remortgage suggested I get two quotes : one to extend the lease and one for outright acquisition .The lease began in 1979 and since then the ground rent has been raised from £38.00 per year to £200 per year.
  • We are proceeding with buying a maisonette in Harold Park. I was advised by the EA that the lease extension had already been completed while on a viewing (seventy eight years outstanding prior to extension). The sales particulars stated "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 flat owner apparently has a quote but no money to extend as a result the homeowner wants to exchange and use the deposit monies to extend the lease. My question is as the lease hasn't been extended is there not a danger that it would breach my lenders lease length criteria?
  • I am planning to extend the lease on my one bedroom apartment in Harold Park I am looking for a local company to calculate the premium. I have a price from the freeholder. I would like to go forward as soon as possible, but for the right premium and fee.
  • 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 currently in the process of remortgaging my three bed flat in Harold Park and the bank that I am looking to switch to requires a minimum 85 years on the leasehold of my property in order for them to progress matters. I have discovered that I currently have around sixety eight years on the leasehold so require some help, guidance, and some quotes to set the wheels in motion for a lease extension
  • We currently own a maisonette in Harold Park 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 72 years left. Not sure what to do, have read some bits on the web saying it will be 20k plus to get a lease extension. Do you have some advice on this? Do I contact the freeholder first and will they be able to give me a cost?
  • I was hoping you might be able to tell me the process of how to apply for a lease extension for my garden flat in Harold Park
  • Do you handle lease extensions on land? (a plot of land in Harold Park with 82yrs remaining)

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