Questions and Answers: Ipswich Lease Extensions

  • I'm thinking of purchasing a garden flat (leasehold) but the landlord has been absent for about 15yrs. I wonder whether it will be cheaper to try to buy the reversionary title or to get a lease extension and apply for right to manage?
  • I am looking into the costs of carrying out a lease extension for my first floor flat in Ipswich, and would like some figures on that.
  • I bought a ground floor flat in Ipswich. 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 it would take for completion.
  • 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?
  • If a leaseholder owns a flat with a lease of less than 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'm looking at buying an apartment in Ipswich valued at £256,000 the flat has approximately seventy six years remaining on the lease. I put in an offer subject to a lease extension... .. that was back in November, expecting I'd have moved in before Christmas. They have just come back saying they'll reduce the price by£7k if they don't have to deal with the lease extension. I'm unsure if I should take them up on the offer
  • My sister is aware that others in the same building previously had a lease extension, and the landlord was amenable. It therefore appears worth taking risk of not having formal valuation and calculate the initial offer on previous prices . This would save on double valuation charges. Is this advisable?
  • We currently own a one bedroom apartment in Ipswich and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has 64 years left. Not sure what to do, have read some bits on the web saying it will be 20k plus to get a lease extension. Do you have some advice on this? Should I contact the landlord first and will they be able to give me a cost?
  • Do you handle lease extensions on land? (a plot of land in Ipswich with 82yrs remaining)
  • We have a three bed flat in Ipswich with a lease of sixety eight years left with a value of around £290000 we want to add 125 years to it, how much is that likely to cost?

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