Lavenham Lease Extensions

Lavenham Lease Extensions: Q and A’s

I bought a flat in Lavenham with a leasehold unexpired around 67 years and need to extend it. Please can you clarify the next steps

I invested in buying a studio flat based in Lavenham with a leasehold unexpired of 67 years. I am curious about how much I will need to spend to extend my lease

I would like to have my residential flat leasehold extension premium assessed. The flat is in Lavenham, and my lease will reach 73 years this February. Could you advise me about the costs and time-frame to obtain your valuation? Also, do you represent your clients at the Tribunal court?

I need to talk to you about a flat in Lavenham, I am thinking of bidding at auction next week. The flat only has a few years outstanding and I am curious about how much it would cost to get a lease extension and for your services.

I am looking to either purchase the freehold or a lease extension of my property in Lavenham and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously remortgage with Accord Mortgages Ltd to release of equity. My adviser dealing with the remortgage suggested I get two estimates : one to extend the lease and one for outright purchase .The lease commenced in 1981 and since then the ground rent has been raised from £15.00 per annum to £300 per year.

I have my suspicions that my niece might be having the wool pulled over her eyes. She submitted an offer on a one bedroom ground floor purpose built maisonette in Lavenham, where the lease is around 77 years but she was told by the estate agents that the owner had extended it to 125 years. Only now has she been advised the homeowner was holding off for her to appoint conveyancers before commencing with the lease extension. Seems devious, also it will take time to sort it all out. What do you think?

I am the freeholder of a 1930’s property split into two apartments. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current fivety eight years. What are my next steps?

I own the freehold reversion of a property in Lavenham and a leaseholder has requested a lease extension. Her so called valuation expert has given a figure of £8,000, but has upped this to £10,000 without too much effort. My surveyor has recommended a much higher premium. Negotiations have broken down so it looks at though we need to go to LVT. If a lease extension does go to tribunal, can I deal with this myself, just armed with the valuations I have? If not, what costs would I be likely to face?

My friend is concerned about getting a lease extension from a difficult freeholder. Regardless of the fact that the legal procedures were adhered to under the appropriate legislation, the freeholder still attempted to get ground rent of £250 doubling every twenty years of the new term. Can you help?

I am currently negotiating a lease extension for my flat in Lavenham 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?

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