Higham Wood Lease Extensions: Q and A’s

  • I’m just looking for a a property to buy in the Higham Wood area and was after more information on what the likely fees would be for a lease extension? It has 55 years as a balance left...
  • 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 am a first time buyer of a leasehold flat in Higham Wood. The lease has just sixety nine years outstanding and ground rent is £95. Is it possible for the seller to serve the Notice of Claim and then transfer over the right to me as the purchaser once I complete the buying process so that I don't have to wait for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is achievable but will it be very time consuming to the homeowner? Unfortunately it’s the case of an absent landlord, so I am not sure how this will play out.
  • My mortgage lender requires a £450 fee for their for a "deed of substituted security" for the lease extension for my flat in Higham Wood... I can find no mention of this in my mortgage booklet... is this a normal cost that they charge?
  • I have a share of the freehold. There are three flats in the house. All the leaseholders are now seeking lease extensions. Are you willing to help us with this situation?
  • I am the freeholder of a Edwardian property split into two apartments. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current sixety years. What are my next steps?
  • I'm living at mum and dad but have a garden flat in Higham Wood let out which has a sixety eight year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Higham Wood for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 13k. Should I keep or sell the flat?
  • I'm looking at buying a flat in Higham Wood at a price of £210,000 the flat has approximately 57 years remaining on the lease. I put in an offer subject to the lease being renewed... .. that was back in November, hoping I'd have completed by now. The seller has just come back saying that they are prepared to knock £5k off if I deal with the lease extension myself. I'm not sure if I should take them up on the offer
  • I am currently in the process of remortgaging my garden flat in Higham Wood 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 58 years on the leasehold so looking for some help, guidance, and some quotes to set the wheels in motion for a lease extension
  • Do you handle lease extensions on land? (a plot of land in Higham Wood with 82yrs remaining)

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