Lease Extensions in Rusholme

Rusholme Lease Extensions: Q and A’s

I have an interest in the freehold of 2 blocks of flats comprising of six flats each. Two of the leaseholders want a lease extension and I'm curious about the procedure for this

We have seen a house for sale for £215k and we are very interested but we've just discovered that it is leasehold. There are 798 years outstanding so a lease extension is not a worry. 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 owning the property. Any information would be much appreciated.

I am the owner of a maisonnette together with the freehold. The owners of the upstairs flat have asked for a lease extension what do I need to do?

I purchased a studio flat in Rusholme. The lease commenced in 1992 for 99 years. Now I am wanting to extend the lease. I am unclear about further expenses, could you tell me please how much I should expect to spend on this?

I am about to view a one bedroom apartment, although not exactly my dream property it has enough positives to suit me very well for my present situation. However after obtaining a copy of the title I've learnt that it only has 62 years outstanding on the lease. It is also a repossession so I'm guessing that the lender will not be interested in doing a lease extension. My main concern is would it be difficult to sell on without a lease extension?

Offer accepted on a a three bed flat in Rusholme, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer come through which states the lease as 85 years.Contracts were due to be exchanged in a couple of days. My query is how is possible that the estate agent got it so wrong?

Me and my fiance would like to know the cost of a lease extension valuation for a property based in Rusholme. Would you be able to help?

If a leaseholder 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?

Hopefully an easy question for you, how much is the premium payable for a lease extension on a residential property in Rusholme for a two bed flat - sec 42 having been issued?

I'm looking for some help concerning extending the lease on my maisonette. The plan is to do this sometime next year as we need to move then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the tribunal route. Do I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Rusholme