New Addington Lease Extensions: Q and A’s

  • We have just completed on a studio flat based inNew Addington and I'm thinking about a lease extension as soon as practicable e.g. after 24 months of ownership
  • We have seen a house for sale for £185,000 and we are very keen on but we've just discovered that it is leasehold. There are 798 years unexpired so a lease extension is not required. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any guidance would be much appreciated.
  • I am about to view a one bedroom flat, although not exactly my dream property it has enough positives to suit me very well for my present situation. However after downloading a copy of the title I've learnt that it only has 65 years outstanding on the lease. It is also a repo so I'm guessing that the lender will not be interested in extending the lease. My primary concern is would the short lease make it difficult to secure a mortgage?
  • How much will it cost me and what is the best way to start the lease extension process? I have just over 56 years unexpired lease on my lease on a studio flat in New Addington. I have contacted the managing agents who act on behalf of the landlord and they provided me with the number of the surveyor. I have contacted the valuer but I am not getting any returned calls.
  • Offer accepted on a a 2 bed flat in New Addington, were told numerous times by the EA that the lease had over 100 years, we have just had our mortgage offer come through which states the lease as 85 years.We are about to exchange contracts within a week. My question is Have the estate agents breached any law by misrepresenting the position concerning the lease term?
  • I am the owner of a purpose-built apartment located in a small block in New Addington. The leasehold interest in the flat on a 99 year lease started from 1 March 1969 with a set ground rent of £10 per annum. I wish to obtain a lease extension. Is it possible for me to talk with someone to go through my options please?
  • Just been over 2 years that I have owned my studio flat in New Addington. I have 71 yrs left on the lease. I am now looking either to purchase 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 about the process, he answered most of my questions but just have one left: What can I expect in terms of legal charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process goes to the tribunal etc)?
  • It says on your website the anticipated fee to extend a lease is £495. Is that the total cost excluding vat and the HMLR fee? The price has already been negotiated with the freeholder for the lease extension for my one bedroom apartment in New Addington
  • I'm intent on buying an apartment in New Addington valued at £195,000 the flat has something like fivety seven years remaining on the lease. My offer was subject to a lease extension... .. that was back in June, expecting I'd have completed by now. They have just come back saying that they are prepared to reduce the price by£7k if they don't have to deal with the lease extension. I'm unsure whether that's a good idea
  • We currently own a three bed flat in New Addington and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has sixety nine years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer some advice on this? Do I contact the freeholder first and will they be able to give me a cost?

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