FAQs concerning Heath Lease Extensions

  • Hello, I stumbled upon your site. I'm seeking prices on what a lease extension will cost for a three bedroom first floor purpose built flat based in Heath. It's up for sale at the moment but has just over sixety seven years left on the lease
  • I have an interest in the freehold of 2 blocks of flats comprising of seven flats each. 2 of the leaseholders want a lease extension and I'm wondering about the the process
  • 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?
  • I would like to have my residential flat leasehold extension premium valued. The flat is in Heath, and my lease will reach sixety eight years this July. Could you advise me about the costs and time-frame to obtain your valuation? Also, do you represent your clients at the LVT court?
  • We are in a block of five flats in Heath and have been offered to buy the freehold for £5000 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 invested in buying a garden flat in Heath. I am looking to extend lease on the property. It is nearon 80 years. I would just like to know what your charges are and how long the process takes.
  • 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 own 60% in a shared ownership property with a housing association and I am considering a lease extension on a lease which is now around seventy two years. I need a at my end. Can you advise please? I live near Heath and have a mortgage with National Westminster Bank.
  • 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?
  • I own the freehold reversion of a property in Heath and a leaseholder has requested a lease extension. Her so called valuation expert has provided a figure of £8,000, but has upped this to £10,000 at the drop of a hat. My valuer has come back with £12,520. She does not appear to wish to negotiate wanting to go to LVT. If a lease extension does go to tribunal, can I deal with this myself, just armed with the valuations I have? If not, what fee would I be likely to incur?

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