Lavenham Lease Extension - Your Legal Fees Calculator
Recently asked questions relating to Lavenham Lease Extensions
I’m just looking for a a property to purchase in the Lavenham area and was after more information on what the likely fees would be to extend a lease? It has 68 years residual lease term...
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 am going to purchase a flat in Lavenham. The offer is subject to the lease extension. The seller’s conveyancing practitioners has served the Notice of Claim. 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 Platform Home Loans Ltd. Moreover, which are the following lease extension steps to complete the purchase?
I am looking into the costs of carrying out a lease extension for my three bedroom first floor purpose built maisonette in Lavenham, and would like some figures on that.
I am considering whether to 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 £4k to extend the lease. I will be doing a refinance with Coventry Building Society to free up equity. The broker dealing with the remortgage suggested I get two quotes : one for the lease extension and one for outright purchase .The lease started in 1979 and since then the ground rent has increased from £15.00 per year to £100 per annum.
I have my suspicions that my daughter might have had the wool pulled over her eyes. She submitted an offer on a two bedroom second floor purpose built flat in Lavenham, where the lease is roughly seventy five years but she was informed by the selling agents that the flat owner had extended it to 99 years. She has now been informed the flat owner was holding off for her to appoint solicitors before commencing with the lease extension. Seems underhand, also it will take a while to sort it all out. Am I reading too much into it?
I'm living at mother and father but have a garden flat in Lavenham let out which has a 68 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 Lavenham 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. 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 extending the lease?
I am the freeholder of a property in Lavenham and a leaseholder has requested a lease extension. Her valuer has given a figure of £8,000, but has upped this by £2,000 without too much effort. My valuer has come back with £12,520. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to a FTT, can I deal with this myself, just armed with the valuations I have? If not, what charges would I be likely to face?
I am planning on refinancing my maisonette in Lavenham and the new lender that I am looking to move to requires a minimum 80 years remaining on the lease in order for them to take the mortgage forward. I have found that I currently have around sixety two years on the leasehold so looking for some advice, guidance, and some quotes to get the wheels in motion for a lease extension