Southwark Lease Extensions: Q and A’s

  • I just completed on a property in Southwark and it has nearly 77 years balance left. I'd like to arrange a lease extension by twenty years
  • I'm about to make an offer on a house in Southwark but I'm concerned 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?
  • I need to talk to you about a flat in Southwark, I am considering bidding at auction next week. The flat only has a few years left and I am curious about what it would cost to get a lease extension and for your services.
  • I am about to view a two bedroom flat, although not exactly my perfect property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has seventy two years unexpired on the lease. It is also a repo so I'm guessing that the bank will not be interested in extending the lease. My primary concern is would it be difficult to sell on without a lease extension?
  • I am a landlord of a block of flats in Southwark, and the tenants are in the process of being issued lease extensions. I anticipate receiving funds within a month or so. Are there any tax implications, the property is co-owned with my husband ?
  • I am thinking about purchasing an auction property and identified a two bed flat in Southwark. It only has a fifty-one year lease..the vendor being mortgagees in possession dont want to mess around with applying for a lease extension..what are the disadvantages of this except for the expensive fee to put a new lease on it and reduced chance of getting a mortgage with Accord Mortgages Ltd?
  • My (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?
  • My husband and I have owned a leasehold flat for approximately twenty years. It now has sixety four years unexpired lease on the lease. Following a year of difficult negotiations through my and, mainly, surveyor I now have an offer from the landlord. I now have to make a decision as to whether to accept it or go to LVT and would welcome some independent thoughts.
  • We know that others in the same building had already had a lease extension, and the landlord was amenable. Therefore is seems worth taking risk of avoiding a formal valuation and base the initial offer on on the premiums paid by others . This would save on double valuation fees. Would you recommend this course of action?
  • We have a garden flat in Southwark with a lease of fivety four years left with a value of around £410000 we want to add 125 years to it, how much is that likely to cost?

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