Common questions relating to Lambeth Lease Extensions

  • We have seen a house for sale for £215k and we are very interested but we've just found out that it is leasehold. There are 928 years left so a lease extension is not a concern. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any feedback would be much appreciated.
  • I am looking into the costs of carrying out a lease extension for my garden flat in Lambeth, and would like some figures on that.
  • Me and my sister are proceeding with buying a three bed flat in Lambeth. I was advised that the lease had been lengthened (65 years outstanding prior to extension). The description on the listing stated "sold with a long lease". It transpires at the point of exchange of contracts we find that the lease has not been extended. The homeowner apparently has a quote but no finances to extend as a result the seller wants to exchange and use the 10% deposit to extend the lease. My question is as the lease hasn't been extended is there not a danger that it would breach my lenders lease length criteria?
  • I own a purpose-built flat based in a large development in Lambeth. The leasehold interest in the apartment on a ninety five year lease started on 2nd August 1969 with a non-reviewable ground rent of £25 per annum. I would like to obtain a lease extension. Is it possible for me to call someone to discuss my options please?
  • My brother has a share of freehold, with two other leaseholders in a building in Lambeth. House converted into three apartments. He has a lease, which has around 77 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?
  • We would like to know the cost of a lease extension valuation for a property based in Lambeth. Is this something you can assist us with?
  • My wife and I have been in discussion with our freeholder after having a valuation on our one bedroom apartment in Lambeth. We have a 76 year lease and we wish to increase this to 99. The Freeholder has provided us with a financial figure that he is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a to handle this for us. Can you please provide me what your costs would be to act on our behalf.
  • We currently own a one bedroom apartment in Lambeth 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 57 years left. Not sure what to do, have read some bits on the web saying it will be 15k plus to get a lease extension. Do you have some advice on this? Do I contact the freeholder first and will they be able to give me a cost?
  • I am currently negotiating a lease extension for my flat in Lambeth 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?
  • Do you handle lease extensions on land? (a plot of land in Lambeth with 82yrs remaining)

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