Parkwood Springs Lease Extension - Your Legal Fees Calculator
Questions and Answers: Parkwood Springs Lease Extensions
I have an interest in the freehold of 2 blocks of flats comprising of seven flats each. 2 of the leaseholders want to extend their leases and I'm wondering about the the process
I'm deliberating over purchasing a maisonette (leasehold) but the landlord has been missing for nearly 15yrs. I wonder whether it will be cheaper to try to acquire the reversionary title or to get a lease extension and apply for RTM?
I am looking to either purchase the freehold or a lease extension of my property in Parkwood Springs and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously refinance with Barclays Direct to free up equity. My adviser handling the remortgage suggested I get two estimates : one to extend the lease and one for outright acquisition .The lease started in 1972 and since then the ground rent has increased from £38.00 per year to £200 per year.
I'm looking for an apartment to purchase in Parkwood Springs and I'm not really familiar with the leasehold title. I've identified a one bedroom apartment I like with a 87 years lease. I've read that I can apply for a lease extension after 2 years, but:- Is this a given?
I am a first time buyer of a leasehold flat in Parkwood Springs. The lease has only 67 years outstanding and ground rent is £95. Is it possible for the seller to serve the Section 42 Notice and then transfer this right to me as the buyer on the day of completion so that I can avoid waiting 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 seller? To add to the complexity it’s the case of an absent freeholder, so I am not sure how this will play out.
Me and my partner had entered into buying a one bedroom ground floor purpose built maisonette in Parkwood Springs. I was assured that the lease had been lengthened (seventy eight years unexpired lease prior to extension). The sales particulars stated "sold with a long lease". It turns out as we are about to exchange of contracts we find that the lease has not been extended. The vendor supposedly has a quote but no money to extend as a result the homeowner intends to exchange and use the deposit monies to extend the lease. My question is as the lease hasn't been extended is there not a danger that Virgin Money won't lend on a lease?
We have owned a leasehold flat for around fifteen years. There are 62 years remaining on the lease. After a year of protracted negotiations through my lawyers and, mainly, surveyor I now have an offer from the freeholder. I now have to make a decision as to whether to accept it or go to a Tribunal and would appreciate some independent thoughts.
I do not need a lease extension but I do need a vesting order on a property I want to buy in Parkwood Springs. The house is freehold but the garden is officially leasehold, 995 year lease from 1889. Its the rear garden.
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 doing it?
I have 70 years remaining on my lease of a ground floor flat in Parkwood Springs, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable