Top Ten Questions relating to Southborough Lease Extensions

  • We have seen a house for sale for £215k and we are very interested but we've just discovered that it is leasehold. There are 798 years unexpired so a lease extension is not a worry. 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 information would be much appreciated.
  • Do you only advise on lease extensions in Southborough? I own a flat in Abbey Wood with 90 years outstanding, I am looking for a quote from a lawyers.
  • I bought a garden flat in Southborough. The start date for the lease was in 1997 for 99 years. Now I am looking to extend the lease. I am unclear about additional expenses, could you tell me please how much I should expect to spend on this?
  • I'm considering buying a three bedroom ground floor purpose built maisonette (leasehold) but the landlord has been missing for about 15yrs. I wonder whether it will be less expensive to try to buy the reversionary title or to get a lease extension and apply for RTM?
  • How much will it cost me and what is the best way to start the lease extension process? I have nearly 65 years remaining on my lease on a two bedroom first floor purpose built flat in Southborough. I have called the agent who act on behalf of the landlord and they sent me the number of the surveyor. I telephone the surveyor but I am not receiving any calls back.
  • Regarding a residence in Southborough. upper maisonette. sixety eight yrs unexpired. I have an agreed lease extension to £12,000 for 125yrs. Freeholder also requested Initial Notice which I think should not be necessary. Advice required.
  • I am the freeholder of a Georgian property split into two apartments. I live in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current fivety five years. What are my next steps?
  • Coming up to two years that I have been in my studio flat in Southborough. I have 66 yrs outstanding on the lease. I am now looking either to purchase a share of freehold or extend my lease. I purchased the property for 350K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my conveyancing practitioners about the process, he answered most of my questions but just have one left: Is there a benefit in getting a Southborough based conveyancers or any will do fine?
  • If a leaseholder 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?
  • I own the freehold to two flats. Someone has the lease on the ground flat in Southborough. I live in the top flat. I was looking at the title deeds last night when I noticed that my flat has a lease on it. There is seventy three years unexpired. Can one do a lease extension without instructing a conveyancers?

    • Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Southborough