Common questions relating to Shawbury Lease Extensions

  • I purchased a garden flat in Shawbury. The lease started in 2001 for 99 years. Now I am wanting for a lease extension. I am unclear about additional expenses, could you tell me please how much I should expect to spend on this?
  • My co-lessees and I are in a building comprising four flats in Shawbury and have been offered to buy the freehold for 5k per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • I am looking into the costs of carrying out a lease extension for my maisonette in Shawbury, and would like some figures on that.
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Shawbury and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a refinance with Accord Mortgages Ltd to release of equity. My adviser dealing with the remortgage suggested I get two quotes : one for the lease extension and one for outright purchase .The lease commenced in 1981 and since then the ground rent has been raised from £25.00 per year to £300 per year.
  • I am a FTB of a leasehold flat in Shawbury. The lease has just 60 years remaining and ground rent is £50. Is it possible for the owner to serve the Notice of Claim and then assign this right to me as the buyer on the day of completion so that I can avoid waiting for the 2 year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is achievable but will it be very time costly to the vendor? To add to the complexity the freeholder can not be found, so I am not sure how does it work.
  • I am hoping to extend the lease on my one bedroom apartment in Shawbury I am looking for a local company to calculate the premium. I have a premium value that the freeholder has given me. I would like to go forward as soon as possible, but for the right premium and fee.
  • If somebody owns a flat with a lease of less than 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 Shawbury for a one bed flat - section 42 having been issued?
  • I own the freehold reversion of a property in Shawbury and a leaseholder has requested a lease extension. Her valuer has provided a figure of £9,000, but has upped this by £2,000 without too much effort. My valuer has put forward a much higher premium. Negotiations have broken down so it looks at though we need to go to LVT. If a lease extension does go to tribunal, can I deal with this myself, just armed with the valuations I have? If not, what charges would I be likely to face?
  • I'm hoping for some assistance with regard to a lease extension on my flat. I'll be looking to do this next June as we have 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 LVT route. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

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