Northop Hall Lease Extension - Your Legal Fees Calculator
Sample questions relating to Northop Hall Lease Extensions
I own a studio flat in Northop Hall that I am now unable to sell due to the lease needing a lease extension. Can you please help me with this situation ?
I am a FTB of a leasehold flat in Northop Hall. The lease has just 62 years unexpired and ground rent is £75. Is it possible for the homeowner to serve the Notice of Claim and then assign this right to me as the buyer once I complete the buying process so that I don't have to wait for the 2 year requisite period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is legal but will it be very time consuming to the flat owner? To add to the complexity the freeholder is absent, so I am not sure how this will play out.
I am looking at bidding for an auction property and found a one bed flat in Northop Hall. It only has a fifty-one year lease..the vendor being mortgagees in possession dont want to mess around with negotiating a lease extension..what are the drawbacks of this other than the expensive fee to extend the lease and decreased chance of getting a mortgage with Barclays ?
Coming up to 2 years that I have been in my ground floor flat in Northop Hall. I have 60 years left on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 342K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my property lawyers 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?
It says on your website the likely fee for dealing with a lease extension is £495. Is that the all inclusive cost including vat and the land registry fee? The premium has already been agreed with the freeholder for the lease extension for my one bed flat in Northop Hall
We are buying a garden flat in Northop Hall which has share of freehold and a leasehold. The lease was starting to get low so the vendor is in the process of dealing with a lease extension. The owner has submitted the lease extension paperwork to HMLR. An essential part of the house buying process is for our conveyancers to do a "priority search" on the property title. The problem here is that as a lease extension has been submitted we've been told by our conveyancers it may not be possible to do this "priority search" right now as the new lease title number has not been issued. Is it correct that we have to be patient pending registration of the new lease?
I own the freehold reversion of a property in Northop Hall where the leaseholder would like a lease extension. Her so called valuation expert has given a figure of £8,000, but has increased this by £2,000 without too much effort. My valuer has come back with £12,520. Negotiations have broken down so it looks at though we need to go to LVT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what costs would I be likely to face?
My wife and I are aware that others in the same building previously had a lease extension, and the freeholder was reasonable. It therefore appears worth taking risk of avoiding a formal valuation and base the initial offer on on the prices by others . This would save on double valuation charges. Would you suggest this course of action?
I am currently negotiating a lease extension for my flat in Northop Hall 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?
Do you handle lease extensions on land? (a plot of land in Northop Hall with 82yrs remaining)