Recently asked questions relating to Streetly Lease Extensions

  • My mortgage provider requires a £600 fee for their to agree a lease extension for my flat in Streetly... I can find no mention of this in my mortgage literature... is this a standard fee to pay?
  • Regarding a property in Streetly. GFF maisonette. 54 yrs remaining. I have an agreed lease extension to £14k for 125yrs. Freeholder also insisted on Initial Notice which I think is a tad over the top. Advice required.
  • My brother and I are considering purchasing a garden flat in Streetly which is a leasehold. I am wanting to weigh up the pros and cons of that - what happens when lease expires, the cost of a lease extension, can the freeholder of the property evict me from my own flat and block me from having a lease extension?
  • Offer accepted on a a one bedroom apartment in Streetly, were told numerous times by the EA that the lease had over 100 years, we have just had our mortgage offer sent through which states the lease as 85 years.Contracts were due to be exchanged within a week. My query is how is possible that the estate agent got it so wrong?
  • I am looking to buy a one bed flat in Streetly for asking price of 125k, which has 56 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 question is: If the freeholder does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
  • I'm living with my mum and dad but have a one bedroom apartment in Streetly let out which has a fivety seven 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 Streetly 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?
  • If somebody 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?
  • I am worried about obtaining a lease extension from tricky landlord. Regardless of the fact that the legal procedures were adhered to under the 1993 Act, the freeholder still tried to get ground rent of £250 increasing by 100% every twenty five years of the new term. Can you help?
  • I have sixety three years remaining on my lease of a ground floor flat in Streetly, the Landlord requires a £15k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is too high
  • I have a lease of sixety eight years remaining on my flat in Streetly. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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