Frequently asked questions relating to Midsomer Norton Lease Extensions

  • 20,000 agreed with the landlord, just trying to find a Midsomer Norton for a lease extension. Our lease has around 64 yearsleft. How long will this take ?
  • I purchased a flat in Midsomer Norton with a leasehold unexpired around 77 years and need a lease extension. Please can you advise me of the next steps
  • I am looking for a lease extension on the lease on my maisonette in Midsomer Norton which will have 54 years outstanding in November. What fees are applicable?
  • I have got a leasehold flat in the Midsomer Norton area and was curious if I could obtain a lease extension. What are your processes and fees. There are 58 years residual lease term
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Midsomer Norton and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a get a new mortgage with Bank of Ireland to release of equity. The broker handling the remortgage suggested I get two estimates : one to extend the lease and one for the freehold acquisition .The lease began in 1981 and since then the ground rent has been raised from £25.00 per annum to £300 per year.
  • I am a freeholder of a block of flats in Midsomer Norton, and the leaseholders are in the process of being issued lease extensions. I anticipate receiving the money next week. Are there any tax implications, the property is in joint names with my partner ?
  • I'm living with my parents but have a studio flat in Midsomer Norton let out which has a seventy four 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 Midsomer Norton 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. Not sure sure whether to hold on 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 doing it?
  • I'm looking at acquiring an apartment in Midsomer Norton valued at £210,000 the flat has just under seventy four years remaining on the lease. My offer was conditional upon a lease extension... .. that was back in June, hoping I'd be in by now. The seller has just informed the agent they'll reduce the price by£8k if they don't have to deal with the lease extension. I'm not sure whether that's a good idea
  • I am the freeholder of a property in Midsomer Norton and a leaseholder has requested a lease extension. Her valuer has given a figure of £9,000, but has upped this by £2,000 without too much effort. My surveyor 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 handle the matter myself, just armed with the valuations I have? If not, what costs would I be likely to incur?

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