Top Ten Questions relating to Ironbridge Lease Extensions

  • My name´s Henry. I’m flat hunting in Ironbridge I'm seeing a 2 bed flat online, with nearly 67 years unexpired lease, how much will it likely cost to extend in this area by, say, thirty years?
  • I bought a flat in Ironbridge with a leasehold unexpired nearon fivety six years and need a lease extension. Please can you advise me of the next stages
  • I am interested in getting my lease extended and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
  • I am hoping to extend the lease on my garden flat in Ironbridge I am looking for help to verify the premium. I have a premium value that the freeholder has given me. I would like to go forward as soon as possible, but for the right premium and fee.
  • Just been over 2 years that I have been in my studio flat in Ironbridge. I have sixety four yrs left on the lease. I am now looking either to buy a share of freehold or extend my lease. I purchased 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: Is there a benefit in getting a Ironbridge based or any will do fine?
  • 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?
  • Me and my fiance are acquiring a one bedroom ground floor purpose built flat in Ironbridge which has share of freehold and a leasehold. The lease was on the short side so the owner commenced extending the lease. The owner has submitted the lease extension paperwork to HMLR. An essential part of the house buying process is for our to do a pre-completion search on the lease. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new lease title number is not known. Is it correct that we have to hold on until the lease extension has actually been registered before completing.?
  • I am the freeholder of a property in Ironbridge where the leaseholder has requested a lease extension. Her valuer has provided a figure of £8,000, but has increased this to £10,000 at the drop of a hat. My valuer has put forward a much higher amount. Negotiations have broken down so it looks at though we need to go to LVT. If a lease extension does go to a FTT, can I deal with this myself, just armed with the valuations I have? If not, what charges would I be likely to face?
  • I know that others in the same block had already had a lease extension, and the freeholder was amenable. Therefore is seems worth taking risk of not having formal survey and base the initial offer on previous prices . This would save on double valuation fees. Would you suggest this course of action?
  • I have a lease of fivety seven years remaining on my flat in Ironbridge. 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 Ironbridge