Questions and Answers: Old Ford Lease Extensions

  • We have just bought a garden flat inOld Ford and I'm considering extending the lease as soon as I can e.g. in 24 months of ownership
  • I am interested in getting a lease extension for a flat in Old Ford and want to use a local . Are you able to help me find a ?
  • I want to purchase a leasehold property and extend the lease. The flat owner has been there for three years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • I am looking to buy a three bed flat in Old Ford with a lease of 75 years but unsure what I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
  • I am a first time buyer of a leasehold flat in Old Ford. The lease has just sixety nine years residual lease term and ground rent is £25. Is it possible for the seller to serve the Section 42 Notice and then transfer over the right to me as the purchaser once I complete the buying process so that I can avoid waiting for the two year qualifying 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 costly to the vendor? To add to the complexity the freeholder is absent, so I am not sure how does it work.
  • I am concerned that my daughter is being hoodwinked. She put in an offer on a two bedroom ground floor purpose built flat in Old Ford, where the lease is nearon fivety seven years but she was informed by the estate agents that the vendor had extended it to 99 years. Only now has she been advised the seller was holding off for her to retain solicitors before commencing with the lease extension. Sounds unscrupulous, also it may take time to sort it all out. Am I being too sceptical?
  • My mortgage provider is requesting several hundred pounds for their to approve the lease extension deed for my flat in Old Ford... I can find no mention of this in my mortgage literature... is this a standard cost that they charge?
  • I am thinking about purchasing an auction property and found a studio flat in Old Ford. It only has a 50 year lease..the current owner being mortgagees in possession will not want to mess around with seeking a lease extension..what are the drawbacks of this other than the expensive fee to extend the lease and reduced chance of obtaining a mortgage with Bank of Scotland?
  • Coming up to 2 years that I have been in my maisonette in Old Ford. I have fivety four years outstanding on the lease. I am now wanting to purchase a share of freehold or extend my lease. I purchased the property for 342K, 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: 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?
  • I have 70 years remaining on my lease of a ground floor flat in Old Ford, the Landlord requires a £18k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is acceptable

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