Lease Extensions in Marks Gate

Questions and Answers: Marks Gate Lease Extensions

So this is the scenario: I own a garden flat in Marks Gate that I now cannot sell due to the lease requiring a lease extension. How long will it take ?

I have got a leasehold flat in the Marks Gate area and was wondering if I could get a lease extension. What are your processes and fees. Has sixety six years balance left

I have contacted my freeholder to extend my lease for my flat in Marks Gate. Her has been in contact concerning fees etc. I need a quote for dealing with the legalities to secure a lease extension. The flat currently has a 99 YR lease which started January 1993.

The intention is to sell our one bed flat in Marks Gate but we may need a lease extension, or possibly cover the costs of our buyers. Are you able to suggest someone to undertake the legal formalities?

I would like some help on purchasing a leasehold residence. We plan to buy a semi detached house which is leasehold property is there any problem involved or hidden costs. Is it safe to buy a leasehold house in Marks Gate area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to sublet the property?

Coming up to two years that I have owned my garden flat in Marks Gate. I have 71 years left on the lease. I am now looking either to buy a share of freehold or extend my lease. I purchased the property for 342K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: Is there a benefit in getting a Marks Gate based or any will do fine?

If a leaseholder 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?

I am the registered freeholder to two flats. Someone has the lease on the garden flat in Marks Gate. I reside in the top flat. I was reviewing the land registry documents recently when I noticed that my flat is leasehold. There is 72 years unexpired. If I want a lease extension then would I simply be paying for the costs?

My daughter is worried about getting a lease extension from an objectionable freeholder. Notwithstanding that the legal procedures were followed under the appropriate legislation, the freeholder still tried 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 Marks Gate 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 Marks Gate