Questions and Answers: Northumberland Heath Lease Extensions

  • I have just completed on a three bedroom first floor purpose built maisonette based inNorthumberland Heath and I'm considering a lease extension as soon as I can e.g. after 24 months of ownership
  • I bought a property in Northumberland Heath and it has circa 79 years outstanding. I'd like to arrange a lease extension by twenty years
  • I bought a three bed flat in Northumberland Heath. The lease commenced in 1991 for 99 years. Now I am wanting for a lease extension. I am in the dark about further expenses, could you tell me please how much I should expect to spend on this?
  • I am thinking about purchasing an auction property and came upon a two bed flat in Northumberland Heath. It only has a 50 year lease..the current owner as mortgagees in possession will not want to mess around with seeking a lease extension..what are the disadvantages of this other than the huge fee to extend the lease and reduced chance of obtaining a mortgage with Birmingham Midshires?
  • I own a purpose-built flat based in a small development in Northumberland Heath. The leasehold interest in the apartment on a ninety five year lease started from 11th August 1972 with a set ground rent of £10 per annum. I wish to obtain a lease extension. Is it possible for me to call someone to discuss my options please?
  • If a leaseholder 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 extending the lease?
  • I own the freehold reversion of a property in Northumberland Heath and a leaseholder would like a lease extension. Her so called valuation expert has given a figure of £9,000, but has increased this by £2,000 at the drop of a hat. My surveyor has recommended a much higher figure. 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 deal with this myself, just armed with the valuations I have? If not, what costs would I be likely to incur?
  • My and my fiance know that others in the same building previously had a lease extension, and the landlord seemed reasonable. It therefore appears worth taking risk of avoiding a formal valuation and calculate the initial offer on on the prices by others . This would save on double valuation charges. Would you recommend this course of action?
  • I am currently in the process of remortgaging my one bedroom apartment in Northumberland Heath and the bank that I am looking to switch to requires a minimum 80 years remaining on the lease in order for them to take the mortgage forward. I have found that I currently have around 63 years on the leasehold so require some help, guidance, and some quotes to start the lease extension process
  • We have a ground floor flat in Northumberland Heath with a lease of fivety six years left with a value of around £410000 we want to add 125 years to it, how much is that likely to cost?

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