Silverstone Lease Extension - Your Legal Fees Calculator
FAQs concerning Silverstone Lease Extensions
I want to acquire a leasehold property and lease extension. The flat owner has been there for four years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
I am in need of a rough estimate of what a lease extension will cost for a flat I intend to buy. It has fivety four years residual lease term.
I have a lease of 60 years on a property which I am looking to buy how much am I looking at for the cost to extend the lease?
I am looking to either purchase the freehold or a lease extension of my property in Silverstone and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a remortgage with Accord Mortgages Ltd to release of equity. The adviser handling the remortgage suggested I get two quotes : one to extend the lease and one for outright purchase .The lease began in 1991 and since then the ground rent has been raised from £15.00 per year to £125 per annum.
I am a FTB of a leasehold flat in Silverstone. The lease has only 66 years residual lease term and ground rent is £50. Is it possible for the vendor to serve the Initial Notice and then transfer this right to me as the buyer on the day of completion so that I can avoid waiting for the 2 year requisite 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? Unfortunately the freeholder can not be found, so I am not sure how this will play out.
I am looking at acquiring an auction property and found a studio flat in Silverstone. It has just 49 year lease..the seller being mortgagees in possession will not want to mess around with seeking a lease extension..what are the drawbacks of this other than the costly fee to put a new lease on it and reduced chance of getting a mortgage with Leeds Building Society?
I am the freeholder of a Georgian property split into two apartments. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 64 years. What are my next steps?
My partner and I would like to know the cost of a lease extension valuation for a property based in Silverstone. Would you be able to help?
I am currently in the process of refinancing my one bedroom apartment in Silverstone and the mortgage company that I am looking to switch to requires at least 85 years on the leasehold of my property in order for them to progress matters. We currently have around fivety six years on the leasehold so looking for some advice, guidance, and some quotes to start the lease extension process
I am currently negotiating a lease extension for my flat in Silverstone 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?