Frequently asked questions relating to Taunton Lease Extensions

  • I acquired a one bedroom apartment in Taunton with a leasehold unexpired of 77 years. I am wondering about what I will need to spend to extend my lease term
  • What will I need to spend and what is the best way to start the lease extension process? I have approximately seventy years remaining on my lease on a studio flat in Taunton. I have called the agent who represent the head landlord and they provided me with the number for the valuer. I have contacted the valuer but I am not receiving any calls back.
  • I am a freeholder of a block of flats in Taunton, and the leaseholders are in the process of being given lease extensions. I anticipate receiving the money next week. As I am not on self assessment do I contact the tax man ?
  • I am thinking about acquiring an auction property and came upon a studio flat in Taunton. It only has a 49 year lease..the current owner as mortgagees in possession will not want the aggravation of seeking a lease extension..what are the disadvantages of this other than the huge fee to extend the lease and decreased chance of getting a mortgage with Leeds Building Society?
  • I own 70% in a shared ownership property with a housing association and I am considering a lease extension on a lease which is now around fivety four years. I need a at my end. Can you advise please? I live near Taunton and have a mortgage with Nationwide Building Society.
  • I am the freeholder of a 1930’s property split into two apartments. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 61 years. What are my next steps?
  • I am in need of some help with a lease extension. I live in Edinburgh but the flat in question is based in Taunton. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • Hi I am the freeholder interest in a 2 bedroom flat in Taunton. The leaseholder has a seventy four year lease and would like to purchase an additional 125 years. He is offering me £18,000 but I am not sure if this is a correct amount
  • I am currently in the process of refinancing my garden flat in Taunton and the next lender that I am looking to move to needs at least 85 years remaining on the lease in order for them to take the mortgage forward. I have found that I currently have around seventy two years on the leasehold so looking for some help, guidance, and some quotes to get the wheels in motion for a lease extension
  • I am currently negotiating a lease extension for my flat in Taunton as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?

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