New Addington Lease Extensions: Q and A’s

  • Hello, I just randomly found this site. I'm seeking prices on what a lease extension will cost for a one bedroom apartment located in New Addington. It's up for sale at the moment but has roughly 59 years remaining on the lease
  • Do you only handle lease extensions in New Addington? I own a flat in Abbey Wood with 90 years unexpired lease, I am looking for a quote from a solicitors.
  • My neighbours and I are in a building comprising five flats in New Addington and have been offered to buy the freehold for 8k 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?
  • I need to talk to you about a leasehold property in New Addington, I am considering bidding at auction in the next few days. The flat has a short lease and I wanted to inquire about how much it would cost to get a lease extension and for your services.
  • My mortgage lender requires a £500 fee for their conveyancers to approve the lease extension deed for my flat in New Addington... I am unable to find any reference of this in my mortgage contract... is this a normal fee to pay?
  • I'm living at parents but have a garden flat in New Addington let out which has a fivety five 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 New Addington 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?
  • Coming up to 2 years that I have owned my garden flat in New Addington. I have sixety four yrs outstanding on the lease. I am now looking either to purchase a share of freehold or extend my lease. 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 solicitors about the process, he answered most of my questions but just have one left: What can I expect in terms of surveyors charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process drags to the tribunal etc)?
  • I'm intent on acquiring an apartment in New Addington at a price of £256,000 the flat has something like 72 years unexpired on the lease. I put in an offer subject to the lease being extended... .. that was back in November, expecting I'd be in before Christmas. They have just informed the agent they'll knock £4k off if I deal with the lease extension myself. I'm not sure if I should take them up on the offer
  • I know that others in the same building had already had a lease extension, and the landlord was amenable. It therefore appears worth taking risk of not having formal valuation and base the initial offer on previous prices . This would save on double valuation fees. Would you recommend this course of action?
  • I have a lease of 61 years remaining on my flat in New Addington. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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