Recently asked questions relating to Headley Lease Extensions

  • I am in need of a rough estimate of what a lease extension will cost for a flat I would like to buy. It has 68 years residual lease term.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • The terms for the lease on my flat in Headley are 101 years from 14 Feb 1980. Please supply me me a quote to extend the lease if I give you more specifics please?
  • My mortgage provider requires a £600 fee for their for a "deed of substituted security" for the lease extension for my flat in Headley... I can find no mention of this in my mortgage literature... is this a standard cost that they charge?
  • I am a freeholder of a block of flats in Headley, and the lessees 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 in joint names with my husband ?
  • We would like to extend our lease. We will have been in the property for 2 years as of 21st March 2016. It has nearon sixety six years remaining currently. Hoping to get a lease extension by way of an additional 90 years as quickly and stress free as is reasonably achievable.
  • 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?
  • If a leaseholder owns a flat with a lease of less than 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 the registered freeholder of a couple of flats. Someone has the lease on the ground flat in Headley. I occupy in the top flat. I was reviewing the land registry documents recently when I noticed that my flat has a lease on it. There is sixety seven years unexpired. If I want to do a lease extension then would I simply be paying for the costs?
  • Do you handle lease extensions on land? (a plot of land in Headley with 82yrs remaining)

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