Common questions relating to Ottery St Mary Lease Extensions

  • Hi, I stumbled upon this site. I'm seeking prices on what a lease extension will cost for a maisonette in Ottery St Mary. It's up for sale at the moment but has roughly seventy four years left on the lease
  • I am about to put an offer in on a garden flat in Ottery St Mary with a lease of seventy three 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.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • I own a maisonnette and the freehold. The owners of the downstairs flat have asked for a lease extension what do I need to do?
  • I have contacted my freeholder to extend my lease for my flat in Ottery St Mary. His has been in contact concerning costs etc. I need an estimate for dealing with the legalities to secure a lease extension. The apartment currently has a 99 YR lease which started April 1987.
  • I am a freeholder of a block of flats in Ottery St Mary, and the tenants are in the process of being issued lease extensions. I should hopefully get the money next week. As I am not on self assessment do I write to the Inland Revenue ?
  • Me and my sister are considering purchasing a ground floor flat in Ottery St Mary which is a leasehold. I am wondering what are the advantages and disadvantages of that - what happens when lease expires, how much it costs to extend it, can the freeholder of the land evict me from my own flat and block me from extending the lease?
  • I intend to buy a one bed flat in Ottery St Mary for asking price of 156k, which has sixety five 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 surveyor, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • If a leaseholder 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?
  • It says on your website the anticipated fee to extend a lease is £495. Is that the all inclusive cost including vat and the HMLR fee? The price has already been negotiated with the freeholder for the lease extension for my maisonette in Ottery St Mary

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