Recently asked questions relating to Honor Oak Lease Extensions

  • I am looking for a rough estimate of what a lease extension will cost for a flat I would like to buy. It has 78 years outstanding.
  • We have seen a house for sale for £185,000 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 required. 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 25 years without the house being ours. Any suggestions would be much appreciated.
  • I have contacted my freeholder for a lease extension for my flat in Honor Oak. Her has been in contact regarding fees etc. I need a ball park figure for dealing with the legalities to secure a lease extension. The flat currently has a 99 YR lease which started May 1994.
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Honor Oak and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously refinance with HSBC Bank to free up equity. My adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold purchase .The lease began in 1979 and since then the ground rent has been raised from £25.00 per annum to £100 per year.
  • I own a leasehold flat in Honor Oak. I have built a huge extension and have not informed the leaseholder. What are my options?
  • I am seeking advice as I am interested in a property that has only a sixety three year lease and therefore requires a lease extension. Can I talk with someone to go through my options please?
  • 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 would like some advice on purchasing a leasehold residence. We intend to buy a 1920s detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Honor Oak area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to sublet the property?
  • Just been over two years that I have been in my three bed flat in Honor Oak. I have fivety eight years remaining on the lease. I am now wanting to buy a share of freehold or extend my lease. I acquired the property for 320K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of financing - do they add it to their existing mortgage or pay it out in cash?
  • I have a lease of 63 years remaining on my flat in Honor Oak. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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