Questions and Answers: St Albans Lease Extensions

  • I need to negotiate a lease extension for a flat in St Albans and want to use a local . Is there a that you can recommend?
  • The intention is to sell our one bedroom apartment in St Albans but we may need a lease extension, or possibly cover the expense of our purchaser. Are you able to recommend a to assist?
  • I am looking to either purchase the freehold or a lease extension of my property in St Albans and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a get a new mortgage with Clydesdale to free up equity. The adviser dealing with the remortgage suggested I get two estimates : one to extend the lease and one for the freehold purchase .The lease started in 1979 and since then the ground rent has increased from £38.00 per annum to £300 per year.
  • I'm looking for a flat to purchase in St Albans and I'm not really familiar with the leasehold arrangement. I've identified a maisonette I like with a 90 years lease. I've read that I can get a lease extension having owned the property for 2 years, but:- Should I anticipate any issue with my proposed mortgage lender Nottingham Building Society?
  • I am the freeholder of a Victorian property split into two flats. I live in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 57 years. What are my next steps?
  • I'm living at parents but have a garden flat in St Albans let out which has a 58 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 St Albans 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 19k. Should I keep or sell the flat?
  • Coming up to 2 years that I have owned my garden flat in St Albans. I have seventy nine yrs remaining on the lease. I am now looking either to purchase a share of freehold or a lease extension. I acquired the property for 320K, it is now roughly 425k. 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: What can I expect in terms of legal charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process goes to the tribunal etc)?
  • I note that your website states the likely fee for dealing with a lease extension is £495. Is that the total cost excluding value added tax and the HMLR fee? The price has already been agreed with the freeholder for the lease extension for my ground floor flat in St Albans
  • Hopefully an easy question for you, how much are the legal fees for a lease extension on a residential property in St Albans for a three bed flat - sec 42 having been issued?
  • We know that others in the same building had already had a lease extension, and the freeholder seemed reasonable. It therefore appears worth taking risk of not having formal survey and calculate the initial offer on previous prices . This would save on double valuation charges. Is this advisable?

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