Sherborne Lease Extension - Your Legal Fees Calculator
Common questions relating to Sherborne Lease Extensions
I have shares in the freehold of 2 blocks of flats comprising of six flats each. Two of the leasehold owners want a lease extension and I'm enquiring about the the process
I am going to purchase a flat in Sherborne. The offer is conditional upon a lease extension. The current owner’s solicitors has given to the freeholder the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Barnsley Building Society. Moreover, which are the following lease extension steps to complete the purchase?
My neighbours and I are in a building made up three flats in Sherborne and have been offered to buy the freehold for £3,500 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 have my suspicions that my niece is being hoodwinked. She submitted an offer on a studio flat in Sherborne, where the lease is approximately 69 years but she was advised by the estate agents that the vendor had extended it to 99 years. Only now has she been advised the owner was holding off for her to retain solicitors ahead of instigating the lease extension. Sounds odd to me, also it will take a while to sort it all out. Am I reading too much into it?
My wife and I have a residential flat in Sherborne with fivety eight years remaining. Ten months ago we were quoted a deal to grant a lease extension for another 25 years but also uplift the ground rent from nominal to £250 per year..plus a premium I think of approximately 10k. Finally we have decided to go ahead but do we now have to start the negotiations again?
I am in need of a lease extension for my flat in Sherborne and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
My conveyancing practitioners (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?
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?
I own the freehold reversion of a property in Sherborne and a leaseholder would like a lease extension. Her valuer has given a figure of £9,000, but has upped this to £10,000 without too much effort. My valuer has come back with £12,520. She does not appear to wish to negotiate wanting to go to LVT. If a lease extension does go to a FTT, can I deal with this myself, just armed with the valuations I have? If not, what charges would I be likely to incur?
We currently own a one bed flat in Sherborne and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has 55 years left. Not sure what to do, have read some bits on the web saying it will be 15k plus to get a lease extension. Can you offer some advice on this? Should I contact the freeholder first and will they be able to give me a cost?