FAQs concerning Southwick Lease Extensions

  • I want to acquire a leasehold property and extend the lease. The vendor has been there over two years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • 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 928 years left so a lease extension is not required. 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 correct? We wouldn't want to pay a mortgage for 25 years without owning the property. Any suggestions would be much appreciated.
  • I am looking for a in Southwick and they need to be on the Barclays Direct approved conveyancers panel as we need a lease extension and refinance at the same time. Can you recommend a ?
  • I acquired a garden flat located in Southwick with a leasehold unexpired of seventy three years. I am enquiring about how much it will cost me to extend my leasehold
  • I would like to have my residential flat leasehold extension premium valued. The flat is in Southwick, and my lease will reach fivety four years this February. Could you advise me about the costs and time-frame to obtain your valuation? Also, do you represent your clients at the Tribunal court?
  • We are looking to extend our lease having owned the flat for 2 years as of 6th May 2016. It has around sixety seven years remaining currently. Hoping to get a lease extension by another 90 years as expeditiously and stress free as possible.
  • I'm living at mother and father but have a maisonette in Southwick let out which has a seventy nine year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Southwick for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 13k. Not sure sure whether to hold on or sell the flat?
  • I'm looking at buying an apartment in Southwick at a price of £210,000 the flat has approximately 61 years remaining on the lease. I put in an offer conditional upon the lease being renewed... .. that was back in August, hoping I'd be in before Christmas. The seller has just informed the agent that they are prepared to reduce the price by£2k if I deal with the lease extension myself. I'm not sure if I should take them up on the offer
  • My husband and I are are hoping to complete on a studio flat in Southwick which has share of freehold and a leasehold. The lease was starting to get low so the vendor commenced dealing with a lease extension. The owner has submitted the lease extension paperwork to HMLR. An essential part of the conveyancing process is for our to do OS1 search on the property title. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number has not been issued. Is it correct that we have to be patient pending registration of the new lease?
  • I am currently negotiating a lease extension for my flat in Southwick 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?

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