Silverton Lease Extension - Your Legal Fees Calculator
Examples of recent questions relating to Lease Extensions in Silverton
I'm about to make an offer on a house in Silverton but I'm a little worried about it being leasehold. Do you know what title absolute means and is this regarding the lease? Also, we have asked to see a copy of the lease but the homeowner said they might not have it. We are worried about restrictions, and dont know what to do. We have also been approved for the mortgage but the lender doesn't know its leasehold. Do houses qualify for lease extension? Will this affect Platform Home Loans Ltd giving us the mortgage now?
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 to either purchase the freehold or a lease extension of my property in Silverton and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously refinance with Bank of Scotland to release of equity. My adviser handling the remortgage suggested I get two estimates : one to extend the lease and one for outright acquisition .The lease commenced in 1979 and since then the ground rent has been raised from £15.00 per annum to £125 per annum.
My wife and I have a first floor flat in Silverton with seventy six years left. Ten months ago we were quoted a deal to have a lease extension for another thirty years but also increase ground rent from nominal to a little more..plus a premium I think of about 10k. Finally we have decided to move forward but do we now have to renegotiate?
My brother and I are considering buying a ground floor flat in Silverton which is a leasehold. I am wondering what are the advantages and disadvantages 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 block me from extending the lease?
Offer accepted on a a garden flat in Silverton, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer sent through which states the lease as 82 years.Contracts were due to be exchanged within a week. My query is Should I tell the owner that I will only proceed with the purchase (at the same price) on the condition they carry out a lease extension?
I am looking to buy a one bed flat in Silverton for asking price of 156k, which has sixety six years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
I am seeking advice as I am interested in a property that has only a 63 year lease and therefore requires a lease extension. Is it possible for me to call someone to discuss my options please?
Me and my husband are in the throws of buying a flat (a 2 bed flat located inSilverton with share of freehold). Throughout our search, we were always looking at properties that had at least 83 years left on the lease. We found a flat we liked and the selling agent promised us that the lease term was not an issue. Yesterday our lawyers told us the lease only has seventy years and therefore needs a lease extension. Should we run away, or should we reduce our offer?
I know that others in the same block previously had a lease extension, and the freeholder seemed amenable. Therefore is seems worth taking risk of not having formal valuation and calculate the initial offer on on the prices by others . This would save on double valuation charges. Would you suggest such a course of action?