Recently asked questions relating to Sefton Lease Extensions

  • My wife has an apartment located in Sefton which we have just put on the market. The leasehold has around 62 years residual lease term on it and we are concerned this will come up for anyone who may be interested. I am after more information on how we commence arranging a lease extension? Many thanks.
  • I invested in buying a maisonette based in Sefton with a leasehold unexpired of seventy three years. I am wondering about what it will cost me to extend my lease term
  • 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 looking at acquiring an auction property and found a studio flat in Sefton. It only has a fifty year lease..the vendor being mortgagees in possession dont want to mess around with applying for a lease extension..what are the disadvantages of this except for the costly fee to put a new lease on it and decreased chance of obtaining a mortgage with Barclays Direct?
  • My flat in Sefton is up for sale and I have a hopefully firm offer. There is eighty one years left on the lease and I want to extend the lease. What does it cost on average to extend in this location by, say,35 years
  • I am seeking advice as I am interested in a property that has only a seventy nine year lease and therefore requires a lease extension. Can I talk with someone to discuss my options please?
  • My (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?
  • We have been in discussion with our freeholder after having a valuation on our garden flat in Sefton. We have a sixety two year lease and we wish to increase this to 99. The Freeholder has supplied us with a financial figure that he 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 to handle this for us. Can you please provide me what your costs would be to act on our behalf.
  • We are purchasing a garden flat in Sefton which has share of freehold and a leasehold. The lease was starting to get low so the owner commenced dealing with a lease extension. The seller’s lawyer has submitted the lease extension paperwork to HMLR. A crucial aspect of the house buying process is for our to do OS1 search on the property title. The concern here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number has not been issued. Is it right that we have to hold on until the lease extension has actually been registered before completing.?
  • We are hoping to acquire a flat (a studio flat inSefton with share of freehold). During our search, we were always looking at properties that had a minimum 83 years remaining. We found a place we fell in love with and the selling agent assured that the lease term was not an issue. This morning our told us the lease only has 77 years and therefore needs a lease extension. Do we run away, or should we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?

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