Killingworth Lease Extension - Your Legal Fees Calculator
Questions and Answers: Killingworth Lease Extensions
I’m looking for lease extension for our ground floor flat based in Killingworth and we are confused by the communication that we received from our landlord company. How long will it take?
I purchased a property in Killingworth and it has circa 76 years unexpired. I'd like to extend the lease period
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?
The intention is to sell our 2 bed flat in Killingworth but we may require a lease extension, or at least cover the expense of our purchaser. Are you able to suggest someone to undertake the legal formalities?
I wondered if you could help me on the likely expense and the best way to get a lease extension started? I have around 62 years left and I own a studio flat in Killingworth.
I am concerned that my niece is being hoodwinked. She submitted an offer on a garden flat in Killingworth, where the lease is about 58 years but she was informed by the estate agents that the current owner had extended it to 125 years. Only now has she been advised the current owner was holding off for her to appoint lawyers prior to commencing with the lease extension. Seems underhand, also it will take time to sort it all out. Am I being too sceptical?
My brother has a share of freehold, with two other leaseholders in a building in Killingworth. House converted into three apartments. He has a lease, which has approximately 56 yrs outstanding. 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'm living with my mum and dad but have a one bedroom ground floor purpose built maisonette in Killingworth let out which has a 73 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 13k. Should I keep 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?
My and my partner know that others in the same block previously had a lease extension, and the landlord seemed amenable. It therefore appears worth taking risk of avoiding a formal survey and base the initial offer on on the premiums paid by others . This would save on double valuation charges. Is this advisable?