Killingworth Lease Extensions

Sample questions relating to Killingworth Lease Extensions

My name´s Jonathan. I’m property hunting in Killingworth I'm deliberating offering on a garden flat online, with about fivety seven years left, how much will it likely cost to get a lease extension by, say, thirty years?

We hope to sell our one bed flat in Killingworth but we may require a lease extension, or at least cover the costs of our buyers. Can you recommend someone to assist?

My husband has a share of freehold, with two other leaseholders in a building in Killingworth. House split into three flats. He has a lease, which has slightly less than 65 years unexpired lease. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?

I own 70% in a shared ownership flat with a housing association and I am considering a lease extension on a lease which is now around 63 years. I need a at my end. Can you advise please? I live near Killingworth and have a mortgage with Barclays Direct.

I'm living at mother and father but have a maisonette in Killingworth let out which has a fivety seven year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Killingworth for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 21k. Not sure sure whether to hold on or sell the flat?

If somebody 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?

Me and my partner are acquiring a garden flat in Killingworth which has share of freehold and a leasehold. The lease was starting to get low so the vendor is in the process of dealing with a lease extension. The vendor 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 property title. 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 property title number has not been issued. Is it right that we have to be patient until the new lease is registered?

My partner and I are hoping to buy a home (a studio flat based inKillingworth with share of freehold). Throughout our search, we were always looking at apartments that had at least eighty five years outstanding. We found a flat we fell in love with and the selling agent promised us that the lease was long albeit not specifying a number. Yesterday our informed us the lease only has 73 years and thus requires a lease extension. Do we walk away, or do we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?

I am currently negotiating a lease extension for my flat in Killingworth as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?

I have a lease of 76 years remaining on my flat in Killingworth. 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?

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