Recently asked questions relating to Looe Lease Extensions
My name´s Freddie. I’m house hunting in Looe I'm considering offering on a three bedroom first floor purpose built flat online, with roughly sixety years outstanding, how much will it likely cost to extend in this area by, say, 35 years?
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?
My neighbours and I are in a block of four flats in Looe and have been offered to buy the freehold for 7k per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
Think I may have made a mistake, I am actually looking for a conveyancing practitioners in Looe who has Leasehold Tribunal expertise when it comes to lease extensions. Is this something you can help me with?
I am considering whether to purchase the freehold or a lease extension of my property in Looe and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a remortgage with Nationwide Building Society to free up equity. My broker handling the remortgage suggested I get two estimates : one for the lease extension and one for outright purchase .The lease began in 1972 and since then the ground rent has increased from £15.00 per year to £200 per annum.
What will it cost me and what is the best way to start the lease extension process? I have nearon sixety six years outstanding on my lease on a ground floor flat in Looe. I have called the agent who act on behalf of the landlord and they provided me with the number for the valuer. I telephone the valuer but I am not receiving any calls back.
I have a share of the freehold. There are four flats in the block. All the leaseholders are now looking for lease extensions. Are you able to assist us with this situation?
Coming up to two years that I have owned my three bedroom ground floor purpose built flat in Looe. I have seventy three years unexpired lease on the lease. I am now looking either to buy a share of freehold or a lease extension. I acquired the property for 350K, it is now roughly 425k. I understand that 90 years is the period most people extend. I spoke to my conveyancers about the process, he answered most of my questions but just have one left: In terms of surveyors - how do I go about finding one?
I'm intent on acquiring a flat in Looe valued at £256,000 the flat has approaching sixety years remaining on the lease. I put in an offer subject to a lease extension... .. that was back in September, hoping I'd be in before now. The seller has just come back saying they are willing to reduce the price by£8k if they don't have to deal with the lease extension. I'm unsure whether that's a good idea
Me and my fiance are acquiring a maisonette in Looe which has share of freehold and a leasehold. The lease was on the short side so the owner is in the process of dealing with a lease extension. The seller’s lawyer has submitted the lease extension paperwork to HMLR. An essential part of the conveyancing process is for our solicitors to do a "priority search" on the property title. The concern here is that as a lease extension has been submitted we've been told by our conveyancing practitioners it may not be possible to do this "priority search" right now as the new property title number is not known. Is it correct that we must be patient until the new lease is registered?