Questions and Answers: Ruislip Manor Lease Extensions

  • I acquired a flat in Ruislip Manor with a leasehold unexpired around sixety eight years and need to extend it. Please can you advise me of the next stages
  • I am looking for a rough estimate of what a lease extension will cost for a flat I intend to purchase. It has seventy seven years outstanding.
  • I am going to purchase a flat in Ruislip Manor. The offer is conditional upon a lease extension. The homeowner’s has given to the freeholder the Notice of Claim. 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 Nottingham 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 Ruislip Manor and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously refinance with Barclays Direct to release of equity. The broker dealing with the remortgage suggested I get two estimates : one for the lease extension and one for outright purchase .The lease started in 1972 and since then the ground rent has been raised from £38.00 per annum to £125 per year.
  • My wife and I have a leasehold flat in Ruislip Manor with sixety two years left. Last year we were quoted a deal to grant a lease extension for a further 25 years but also increase ground rent from nominal to a little more..plus a premium I think of approximately 16k. We have now decided to proceed but do we now have to start the negotiations again?
  • I am looking to buy a one bed flat in Ruislip Manor for asking price of 125k, which has fivety 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 query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
  • I'm living with my parents but have a garden flat in Ruislip Manor let out which has a 68 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 Ruislip Manor 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?
  • 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 doing it?
  • Are you able to provide an estimate to extend my mother’s lease on a 2 bed flat in Ruislip Manor. She recently got a price from the landlord for a lease extension but I am far from certain if it is too expensive.
  • We currently own a garden flat in Ruislip Manor and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has fivety eight years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer some advice on this? Should I contact the freeholder first and will they be able to give me a cost?

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