Ruskington Lease Extension - Your Legal Fees Calculator
Questions and Answers: Ruskington Lease Extensions
I purchased a garden flat in Ruskington with a leasehold unexpired of seventy six years. I am curious about what I will need to spend to extend my leasehold
This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
I am about to view a one bedroom flat, although not exactly my dream property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has 77 years left on the lease. It is also a repo so I'm guessing that the lender will not be interested in extending the lease. My primary concern is would the short lease make it difficult to secure a mortgage?
I have my suspicions that my niece is being hoodwinked. She submitted an offer on a maisonette in Ruskington, where the lease is about 66 years but she was informed by the selling agents that the current owner had extended it to 125 years. Only now has she been advised the vendor was waiting for her to instruct conveyancers ahead of instigating the lease extension. Seems underhand, also it could take months to sort it all out. Am I reading too much into it?
Regarding a leasehold in Ruskington. GFF maisonette. sixety five yrs left. I have negotiated a lease extension price of £20k for 125yrs. Freeholder also insisted on Section 42 Notice which I think should not be required. Advice required.
I have a share of the freehold. There are five flats in the block. All the leaseholders are now requiring lease extensions. What's your legal fee?
My property 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?
I own 60% in a shared ownership flat with a housing association and I am considering a lease extension on a lease which is now around seventy six years. I need a solicitors at my end. Can you advise please? I live near Ruskington and have a mortgage with Skipton Building Society.
I am currently negotiating a lease extension for my flat in Ruskington as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?
We have a one bedroom apartment in Ruskington with a lease of 54 years left with a value of around £290000 we want to add 90 years to it, how much is that likely to cost?