Frequently asked questions relating to Polesworth Lease Extensions

  • Me and my partner have just acquired a garden flat inPolesworth and I'm thinking about extending the lease as soon as practicable e.g. in 24 months of ownership
  • We have seen a house for sale for £185,000 and we are very interested but we've just found out that it is leasehold. There are 928 years unexpired so a lease extension is not an issue. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for 25 years without the house being ours. Any information would be much appreciated.
  • The intention is to sell our one bedroom apartment in Polesworth but we may need a lease extension, or at least cover the costs of our buyers. Can you recommend a solicitors to undertake the legal formalities?
  • Last year I purchased a leasehold flat in Polesworth. I have built a large extension and have not informed my leaseholder. What are my options?
  • I am a freeholder of a block of flats in Polesworth, and the leaseholders are in the process of being given lease extensions. I should hopefully get funds within a month or so. Are there any tax implications, the property is co-owned with my wife ?
  • I am looking to buy a one bed flat in Polesworth for asking price of 156k, which has sixety three 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?
  • My son has a share of freehold, with two other leaseholders in a building in Polesworth. House divided into three flats. He has a lease, which has roughly 75 yrs left. How much would it cost for a lease extension and how many years would he need to extend by?
  • I own 60% in a shared ownership property with a housing association and I am considering a lease extension on a lease which is now around seventy years. I need a lawyers at my end. Can you advise please? I live near Polesworth and have a mortgage with Birmingham Midshires.
  • Just been over two years that I have owned my garden flat in Polesworth. I have seventy five yrs outstanding on the lease. I am now wanting to purchase a share of freehold or a lease extension. I purchased the property for 320K, it is now roughly 450k. I understand that 90 years is the period most people extend. I spoke to my conveyancing practitioners 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?
  • I am planning on refinancing my two bedroom second floor purpose built maisonette in Polesworth and the mortgage company that I am looking to switch to needs at least 85 years on the leasehold of my property in order for them to progress matters. We currently have around 57 years on the leasehold so looking for some help, guidance, and some quotes to get the wheels in motion for a lease extension
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    Lease Extensions in Polesworth

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