Marks Gate Lease Extensions

Recently asked questions relating to Marks Gate Lease Extensions

I want to acquire a leasehold property and extend the lease. The vendor has been there over 2 years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?

I am looking for a rough estimate of what a lease extension will cost for a flat I would like to buy. It has 64 years left.

I have a share of the freehold. There are four apartments in the house. All the leaseholders are now looking for lease extensions. What's your solicitors fee?

I am in need of some help with a lease extension. I live in Belfast but the property in question is based in Marks Gate. I would be grateful if you can give me a call when you get a chance to discuss the case.

I'm living at mum and dad but have a ground floor flat in Marks Gate let out which has a fivety nine 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 Marks Gate 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 19k. Should I keep or sell the flat?

Coming up to two years that I have owned my ground floor flat in Marks Gate. I have 76 years left on the lease. I am now wanting to buy a share of freehold or a lease extension. I purchased the property for 350K, it is now roughly 445k. 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?

I am the freeholder of a property in Marks Gate and a leaseholder would like a lease extension. Her valuer has suggested a figure of £9,000, but has upped this to £10,000 at the drop of a hat. My valuer has recommended a much higher figure. 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 fee would I be likely to face?

My mum is aware that others in the same block had already had a lease extension, and the freeholder seemed amenable. It therefore appears worth taking risk of avoiding a formal survey and base the initial offer on on the premiums paid by others . This would save on double valuation charges. Would you suggest such a course of action?

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?

We wanted an estimate on the cost of a lease extension and a few more questions answered regarding a lease extension for my garden flat in Marks Gate

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