Southwold Lease Extension - Your Legal Fees Calculator
Sample questions relating to Southwold Lease Extensions
I am interested in getting a lease extension for a flat in Southwold and want to use a local conveyancers. Is there a lawyers that you can recommend?
I have contacted my freeholder for a lease extension for my flat in Southwold. His lawyers has been in contact with fees etc. I need a quote for dealing with the legalities to secure a lease extension. The property currently has a 99 YR lease which started Septembmer 1993.
I am looking to either purchase the freehold or a lease extension of my property in Southwold and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously refinance with National Westminster Bank to release of equity. The adviser handling the remortgage suggested I get two quotes : one to extend the lease and one for outright acquisition .The lease commenced in 1979 and since then the ground rent has increased from £15.00 per year to £125 per annum.
I'm looking for an apartment to buy in Southwold and I'm not really familiar with the leasehold concept. I've identified a maisonette I like with a 87 years lease. I've read that I can go for a lease extension after 2 years, but:- Should I be looking at some caveats that would prevent me for getting a lease extension?
I am a FTB of a leasehold flat in Southwold. The lease has only 60 years balance left and ground rent is £75. Is it possible for the current owner to serve the Initial Notice and then transfer over the right to me as the purchaser on the day of completion so that I can avoid waiting for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is legal but will it be very time consuming to the seller? Unfortunately it’s the case of an absent landlord, so I am not sure how this will play out.
I am interested in getting my lease extended and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
My fiance and I have owned a leasehold flat for approximately twenty years. There are seventy five years remaining on the lease. Following a year of difficult negotiations through my property lawyers and, mainly, surveyor I now have an offer from the freeholder. I am at a decision point on whether to accept it or go to LVT and would appreciate advice.
I am hoping to extend the lease on my studio flat in Southwold I am looking for a local company to calculate the premium. I have a premium value that the freeholder has given me. I would like to go forward as soon as possible, but for the right premium and fee.
Coming up to two years that I have been in my one bed flat in Southwold. I have 79 yrs outstanding on the lease. I am now looking either to buy a share of freehold or extend my lease. I purchased the property for 320K, it is now roughly 425k. I understand that 90 years is the period most people extend. I spoke to my lawyers about the process, he answered most of my questions but just have one left: Is there a benefit in getting a Southwold based lawyers or any will do fine?
If a leaseholder owns a flat with a lease of under 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 doing it?