Lease Extensions in Kemp Town

Frequently asked questions relating to Kemp Town Lease Extensions

I am considering investing in a second home but it has a lease that expires in 14 years. Its in Kemp Town - I wanted to see if with your services this could be extended?

I want to buy a leasehold property and lease extension. The owner has been there over two years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?

Do you only undertake lease extensions in Kemp Town? I own a flat in Abbey Wood with 90 years outstanding, I am looking for a quote from a .

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 plan on buying a flat in Kemp Town. My offer is conditional upon a lease extension. The vendor’s has given to the freeholder the Section 42 Notice. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Virgin Money. Moreover, which are the following lease extension steps to complete the purchase?

My leasehold flat in Kemp Town is up for sale and I have a hopefully firm offer. There is eighty one years unexpired on the lease and I want a lease extension. What does it cost on average to get a lease extension by, say,thirty years

I am planning to get a lease extension and am wondering which step I have to do first, I have been previously advised that I have to have the finances in place before I commence the process, is this correct?

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 extending the lease?

I own the freehold reversion of a property in Kemp Town and a leaseholder has requested a lease extension. Her valuer has suggested a figure of £8,000, but has upped this to £10,000 at the drop of a hat. My valuer has recommended a much higher figure. 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 handle the matter myself, just armed with the valuations I have? If not, what charges would I be likely to incur?

We know that others in the same building had already had a lease extension, and the freeholder was reasonable. It therefore appears worth taking risk of avoiding a formal valuation and calculate the initial offer on previous prices . This would save on double valuation fees. Would you suggest such a course of action?

Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Kemp Town