FAQs concerning Spitalfields Lease Extensions

  • I own a property in Spitalfields and it has just under sixety four years unexpired. I'd like to extend the lease period
  • Hello. I need a solicitors to review my lease extension ahead of it being signed just to ensure there's nothing that I haven't seen - it's just a surrender and regrant with a few minor amendments.
  • I am the owner of a maisonnette and the freehold of both flats. The owners of the downstairs flat have asked for a lease extension what do I need to do?
  • I am a first time buyer of a leasehold flat in Spitalfields. The lease has just seventy seven years outstanding and ground rent is £95. Is it possible for the homeowner to serve the Initial Notice and then transfer this right to me as the buyer on the day of completion so that I don't have to wait for the two year requisite period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is achievable but will it be very time consuming to the vendor? To add to the complexity it’s the case of an missing freeholder, so I am not sure how does it work.
  • Offer accepted on a a three bedroom second floor purpose built flat in Spitalfields, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer come through which states the lease as 82 years.Contracts were due to be exchanged in a couple of days. My query is Is it not odd that my property lawyers failed to spot this far earlier than just before exchange?
  • I intend to buy a one bed flat in Spitalfields for asking price of 156k, which has 70 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 landlord 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 own 60% in a shared ownership flat with a housing association and I am considering a lease extension on a lease which is now around sixety years. I need a conveyancers at my end. Can you advise please? I live near Spitalfields and have a mortgage with National Westminster Bank.
  • 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 doing it?
  • My OH and I have been in discussion with our freeholder after having a valuation on our maisonette in Spitalfields. We have a 69 year lease and we wish to increase this to 99. The Freeholder has supplied us with a premium amount that he is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a lawyers to handle this for us. Can you please provide me what your costs would be to act on the lease extension.
  • I am worried about getting a lease extension from an objectionable freeholder. Regardless of the fact that the legal procedures were followed under the 1993 Act, the freeholder still attempted to charge ground rent of £250 doubling every 25 years of the new lease. Can you assist?

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