Oldbury Lease Extension - Your Legal Fees Calculator
Sample questions relating to Oldbury Lease Extensions
I am the registered owner of a flat in Oldbury with a leasehold unexpired roughly sixety nine years and need to extend it. Please can you advise me of the next stages
I am going to purchase a flat based in Oldbury. My offer is conditional upon a lease extension. The vendor’s property lawyers has served the Section 42 Notice. 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 Nationwide Building Society. Moreover, which are the following lease extension steps to complete the purchase?
I am a landlord of a block of flats in Oldbury, and the tenants are in the process of being granted lease extensions. I should hopefully get the money next week. How does the tax work, the property is co-owned with my wife ?
I am looking to buy a one bed flat in Oldbury for asking price of 145k, which has sixety four 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 question 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?
My conveyancers (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
I would like some advice on purchasing a leasehold residence. We hope to buy a semi detached house which is leasehold property is there any problem involved or hidden costs. Is it safe to buy a leasehold house in Oldbury 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?
Coming up to two years that I have owned my maisonette in Oldbury. I have seventy one yrs unexpired lease on the lease. I am now looking either to purchase a share of freehold or extend my lease. I purchased the property for 350K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my conveyancers about the process, he answered most of my questions but just have one left: In terms of surveyors - how do I go about finding one?
If somebody owns a flat with a lease of under 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 doing it?
Me and my partner are hoping to acquire a property (a one bedroom apartment based inOldbury with share of freehold). During our search, we were always looking at apartments that had a minimum 83 years balance left. We found a place we liked and the estate agent assured that the lease term was not an issue. Today our conveyancing practitioners informed us the lease only has fivety nine years and thus needs a lease extension. Do we walk away, or should we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?
Do you handle lease extensions on land? (a plot of land in Oldbury with 82yrs remaining)