Questions and Answers: Shelfield Lease Extensions

  • I own a flat in Shelfield with a leasehold unexpired just over 79 years and need a lease extension. Please can you clarify the next stages
  • We have seen a house for sale for £185,000 and we are very interested but we've just discovered that it is leasehold. There are 928 years remaining so a lease extension is not an issue. 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 true? We wouldn't want to pay a mortgage for 25 years without owning the property. Any suggestions would be much appreciated.
  • 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 a first time buyer of a leasehold flat in Shelfield. The lease has just fivety eight years residual lease term and ground rent is £50. Is it possible for the owner to serve the Section 42 Notice and then assign this right to me as the buyer once I complete the buying process so that I don't have to wait for the two 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 consuming to the flat owner? Unfortunately it’s the case of an absent landlord, so I am not sure how does it work.
  • We are considering buying a garden flat in Shelfield which is a leasehold. I am wondering what are the pros and cons of that - what occurs when lease ends, the cost of a lease extension, can the freeholder of the land evict me from my own flat and prevent me from having a lease extension?
  • My OH and I had entered into buying a one bedroom apartment in Shelfield. I was advised that the lease had been lengthened (71 years left prior to extension). The description on the listing said "sold with a long lease". It transpires at the point of exchange of contracts we find that there has been no lease extension. The vendor apparently has a quote but no money to extend and consequently the seller wishes to exchange and use the deposit monies for the lease extension. My question is is it not odd that my didn't pick this up far earlier than just before exchange?
  • My fiance and I would like to know the cost of a lease extension valuation for a property based in Shelfield. Would you be able to help?
  • 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 extending the lease?
  • My wife and I are worried about obtaining a lease extension from a difficult landlord. Regardless of the fact that the legal procedures were adhered to under the appropriate legislation, the landlord still attempted to charge ground rent of £250 increasing by 100% every 25 years of the new lease. Can you assist?
  • I was hoping you might be able to tell me the process of how to apply for a lease extension for my one bedroom apartment in Shelfield

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