High Wycombe Lease Extension - Your Legal Fees Calculator
Common questions relating to High Wycombe Lease Extensions
We have seen a house for sale for £215k and we are very interested but we've just discovered that it is leasehold. There are 899 years remaining so a lease extension is not a concern. 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 owning the property. Any feedback would be much appreciated.
I am thinking about whether to purchase the freehold or a lease extension of my property in High Wycombe and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously refinance with Bank of Scotland to release of equity. My broker handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold purchase .The lease commenced in 1972 and since then the ground rent has been raised from £25.00 per year to £100 per annum.
I am about to view a two bedroom flat, although not exactly my dream property it has enough positives to suit me very well for my present circumstances. However after obtaining a copy of the title I've learnt that it only has 76 years residual lease term on the lease. It is also a repo so I'm assuming that the lender will not be interested in doing a lease extension. My main concern is would the short lease make it difficult to secure a mortgage?
I am looking at acquiring an auction property and identified a two bed flat in High Wycombe. It only has a fifty-one year lease..the current owner being mortgagees in possession dont want the aggravation of negotiating a lease extension..what are the drawbacks of this except for the expensive fee to put a new lease on it and decreased chance of getting a mortgage with Accord Mortgages Ltd?
I am the freeholder of a Georgian property split into two apartments. I live in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current sixety nine years. What are my next steps?
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 doing it?
We are worried about obtaining a lease extension from tricky landlord. Even though the legal procedures were followed under the appropriate legislation, the freeholder still tried to get ground rent of £250 increasing by 100% every twenty five years of the new term. Can you assist?
My and my partner know that others in the same building previously had a lease extension, and the landlord was reasonable. Therefore is seems worth taking risk of avoiding a formal survey and calculate the initial offer on previous prices . This would save on double valuation charges. Would you suggest this course of action?
Are you able to provide an estimate to extend my aunt’s lease on a garden flat in High Wycombe. She already has a price from the freeholder for a lease extension but I am unclear whether it is reasonable.
I am currently in the process of refinancing my one bedroom apartment in High Wycombe and the mortgage company that I am looking to switch to needs at least 80 years remaining on the lease in order for them to take the mortgage forward. I have discovered that I currently have around 76 years on the leasehold so require some advice, guidance, and some quotes to get the wheels in motion for a lease extension