Frequently asked questions relating to Temple Fortune Lease Extensions

  • I would like to have my residential flat leasehold extension premium assessed. The flat is in Temple Fortune, and my lease will reach seventy eight years this May. Could you advise me about the costs and time-frame to obtain an appraisal? Also, do you represent your clients at the LVT court?
  • I have a share of the freehold. There are three apartments in the block. All the leaseholders are now looking for lease extensions. How long will take to get a lease extension?
  • We would like to extend our lease having owned the property for 2 years as of 1st Jan 2015. It has nearon 78 years remaining currently. Hoping to get a lease extension by way of an additional 90 years as quickly and stress free as is reasonably achievable.
  • I an interested in finding out more about purchasing a leasehold residence. We plan to buy a link detached house which is leasehold property is there any problem involved or hidden costs. Is it safe to buy a leasehold house in Temple Fortune area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to rent out the property?
  • 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 73 years. I need a at my end. Can you advise please? I live near Temple Fortune and have a mortgage with Yorkshire Building Society.
  • Coming up to 2 years that I have owned my maisonette in Temple Fortune. I have 54 yrs remaining on the lease. I am now wanting to buy a share of freehold or extend my lease. I acquired the property for 342K, 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of financing - do they add it to their existing mortgage or pay it out in cash?
  • 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?
  • We currently own a garden flat in Temple Fortune and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has seventy four years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer some advice on this? Should I contact the landlord first and will they be able to give me a cost?
  • I am currently negotiating a lease extension for my flat in Temple Fortune 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?
  • I'm looking for some advice with regard to a lease extension on my three bedroom second floor purpose built flat in Temple Fortune. I'll be looking to do this sometime next year as we need to move at some point 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 tribunal route. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

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