Rise Park Lease Extension - Your Legal Fees Calculator
Top Ten Questions relating to Rise Park Lease Extensions
I'm wanting to make an offer on a house in Rise Park but I'm concerned about it being leasehold. Do you know what title absolute means and is this regarding the lease? Also, we have asked to see a copy of the lease but the homeowner said they might not have it. We are worried about restrictions, and dont know what to do. We have also been approved for the mortgage but the lender doesn't know its leasehold. Do houses qualify for lease extension? Will this affect Lloyds TSB Bank giving us the mortgage now?
I am thinking about whether to purchase the freehold or a lease extension of my property in Rise Park and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with Alliance & Leicester to free up equity. The broker dealing with the remortgage suggested I get two quotes : one to extend the lease and one for outright purchase .The lease began in 1981 and since then the ground rent has been raised from £38.00 per annum to £100 per annum.
I'm looking for an apartment to purchase in Rise Park and I'm not really familiar with the leasehold arrangement. I've found a ground floor flat I like with a 90 years lease. I've read that I can apply for a lease extension having owned the property for 2 years, but:- Should I anticipate any issue with the mortgage?
I wondered if you could help me on how much it would expense and the optimum way to get a lease extension started? I have just under sixety nine years remaining and I own a one bedroom apartment in Rise Park.
I am concerned that my daughter might be having the wool pulled over her eyes. She submitted an offer on a two bedroom second floor purpose built flat in Rise Park, where the lease is approximately 77 years but she was advised by the selling agents that the owner had extended it to 99 years. Only now has she been informed the owner was waiting for her to instruct conveyancers before commencing with the lease extension. Sounds devious, also it will take a while to sort it all out. What do you think?
I am considering acquiring an auction property and identified a two bed flat in Rise Park. It has just 41 year lease..the current owner being mortgagees in possession dont want to mess around with applying for a lease extension..what are the drawbacks of this except for the huge fee to put a new lease on it and reduced chance of obtaining a mortgage with Leeds Building Society?
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 extending the lease?
Me and my fiance have been in discussion with our freeholder after having a valuation on our maisonette in Rise Park. We have a 55 year lease and we wish to increase this to 99. The Freeholder has given us with a premium amount that she is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a solicitors to handle this for us. Can you please provide me what your costs would be to act on the lease extension.
I am the freeholder of a property in Rise Park where the leaseholder has requested a lease extension. Her so called valuation expert has provided a figure of £8,000, but has increased this to £10,000 without too much effort. My surveyor has come back with £12,520. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what charges would I be likely to face?
I was hoping you might be able to tell me the process of how to apply for a lease extension for my studio flat in Rise Park