Frequently asked questions relating to New Barnet Lease Extensions

  • I’m just looking for a garden flat to purchase in the New Barnet area and was enquiring how much would it cost to extend a lease? It has sixety two years residual lease term...
  • I inherited a flat in New Barnet with a leasehold unexpired around 66 years and need a lease extension. Please can you clarify the next stages
  • I am looking at investing in a holiday home but it has a lease that expires in 14 years. Its in New Barnet - I wanted to see if with your services this could be extended?
  • I would like to have my residential flat leasehold extension premium valued. The flat is in New Barnet, and my lease will reach fivety eight years this June. Could you advise me about the costs and time-frame to obtain your valuation? Also, do you represent your clients at the Tribunal court?
  • I am going to purchase a flat in New Barnet. My offer is subject to the lease extension. The owner’s has served the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Aldermore. Moreover, which are the following lease extension steps to complete the purchase?
  • We are considering buying a ground floor flat in New Barnet which is a leasehold. I am enquiring as to the advantages and disadvantages of that - what occurs when lease expires, how much it costs to extend it, can the freeholder of the property evict me from my own flat and prevent me from extending the lease?
  • I intend to buy a one bed flat in New Barnet for asking price of 125k, which has sixety years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • I would like some guidance 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. What are the downsides of purchasing a leasehold house in New Barnet area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to rent out the property?
  • Me and my sister are in the throws of buying a property (a 2 bed flat inNew Barnet with share of freehold). During our search, we were always looking at flats that had at least eighty five years left on the lease. We came across a place we fell in love with and the estate agent assured that the lease term was not an issue. Yesterday our informed us the lease only has 69 years and thus requires a lease extension. Do we walk away, or should we negotiate our offer?
  • I am currently negotiating a lease extension for my flat in New Barnet 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 New Barnet