Ripley Lease Extension - Your Legal Fees Calculator
Frequently asked questions relating to Ripley Lease Extensions
Hello, I just randomly found your website. I'm looking for prices on what it cost to extend a lease of a a property located in Ripley. It's up for sale at the moment but has slightly less than seventy four years outstanding on the lease
I plan on buying a flat in Ripley. My offer is conditional upon a lease extension. The flat owner’s property lawyers has given to the freeholder 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 looking to either purchase the freehold or a lease extension of my property in Ripley and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a refinance with HSBC Bank to free up equity. My broker dealing with the remortgage suggested I get two estimates : one for the lease extension and one for the freehold purchase .The lease started in 1981 and since then the ground rent has been raised from £25.00 per year to £125 per annum.
My wife and I are considering purchasing a three bed flat in Ripley which is a leasehold. I am enquiring as to the advantages and disadvantages of that - what occurs when lease expires, the cost of a lease extension, can the freeholder of the land evict me from my own flat and block me from having a lease extension?
I am looking to buy a one bed flat in Ripley for asking price of 145k, which has 68 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 landlord does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
My lawyers (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?
My nephew has a share of freehold, with two other leaseholders in a building in Ripley. House divided into three apartments. He has a lease, which has circa sixety yrs unexpired lease. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?
I'm living with my parents but have a one bedroom apartment in Ripley let out which has a 56 year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Ripley for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 13k. Not sure sure whether to hold on or sell the flat?
Just a quick question, how much are the legal fees for a lease extension on a residential property in Ripley for a two bed flat - sec 42 having been issued?
I know that others in the same building previously had a lease extension, and the landlord was reasonable. Therefore is seems worth taking risk of avoiding a formal survey and calculate the initial offer on on the premiums paid by others . This would save on double valuation charges. Is this advisable?