Common questions relating to Spitalfields Lease Extensions

  • I'm wanting to make an offer on a house in Spitalfields 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?
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • I'm planning on buying a garden flat (leasehold) but the landlord has been absent for around 15yrs. My query is would it be less expensive to try to acquire the freehold or to get a lease extension and apply for RTM?
  • The terms for the lease on my apartment in Spitalfields are 99 years from 14 Feb 1980. Please supply me me a quote for a lease extension if I give you more specifics please?
  • I am looking to either purchase the freehold or a lease extension of my property in Spitalfields and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a remortgage with TSB to free up equity. My broker dealing with the remortgage suggested I get two quotes : one for the lease extension and one for the freehold acquisition .The lease started in 1979 and since then the ground rent has increased from £38.00 per year to £300 per annum.
  • I own 60% in a shared ownership property with a housing association and I am considering a lease extension on a lease which is now around seventy one years. I need a at my end. Can you advise please? I live near Spitalfields and have a mortgage with Lloyds TSB Bank.
  • Just been over 2 years that I have been in my one bedroom apartment in Spitalfields. I have 60 yrs remaining on the lease. I am now wanting to buy a share of freehold or extend my lease. I acquired the property for 320K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: In terms of surveyors - how do I go about finding one?
  • It says on your website the anticipated fee to extend a lease is £495. Is that the all inclusive cost excluding value added tax and the land registry fee? The premium has already been agreed with the freeholder for the lease extension for my two bedroom second floor purpose built maisonette in Spitalfields
  • We are hoping to purchase a property (a one bedroom apartment based inSpitalfields with share of freehold). Throughout our search, we were always looking at apartments that had a minimum ninety years balance left. We found a flat we liked and the selling agent assured that the lease term was not an issue. This morning our advised us the lease only has 63 years and thus requires a lease extension. Do we run away, or should we reduce our offer?
  • I'm hoping for some help with regard to extending the lease on my apartment. The intention is to do this sometime next year as we need to move then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the LVT route. Can you recommend a good who specialises in lease extensions. Preferably someone in Spitalfields area?

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