Questions and Answers: Hyde Park Lease Extensions

  • I am looking to purchase a one bed flat in Hyde Park with a lease of 64 years but not sure what it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • 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?
  • We hope to sell our studio flat in Hyde Park but we may need a lease extension, or at least cover the expense of our buyers. Can you help me find someone to assist?
  • We purchased a leasehold with a landlord who has failed to respond by way of a counter-notice for a lease extension for our flat in Hyde Park and are therefore deliberating the option of a vesting order. Is this something you can help us with?
  • Are you able to advise on the likely cost and the best way to get a lease extension started? I have about 56 years left and I own a studio flat in Hyde Park.
  • My partner and I have a GFF located in Hyde Park. There is eighty years to run on the lease and we want a lease extension. What does it cost on average to get a lease extension by, say,45 years
  • I am looking to buy a one bed flat in Hyde Park for asking price of 145k, which has 54 years lease left on it. Seller doesn't want to extend the lease for even if I were to pay the money to the seller. My question is: If the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • 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?
  • Hi I own the freehold reversion in a 3 bedroom flat in Hyde Park. The leaseholder has a seventy one year lease and would like to purchase further 125 years. He is offering me £21,000 but I am not sure if this is too low an offer
  • I am the freeholder of a property in Hyde Park and a leaseholder would like a lease extension. Her valuer has provided a figure of £8,000, but has upped this to £10,000 at the drop of a hat. My surveyor has suggested a much higher premium. She does not appear to wish to negotiate wanting to go to LVT. If a lease extension does go to a FTT, can I deal with this myself, just equipped with the valuations I have? If not, what fee would I be likely to face?

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