Sample questions relating to Tufnell Park Lease Extensions

  • We have seen a house for sale for £195k and we are very interested but we've just discovered that it is leasehold. There are 928 years residual lease term so a lease extension is not a worry. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for twenty years without owning the property. Any feedback would be much appreciated.
  • 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 acquired a garden flat in Tufnell Park. The lease started in 1991 for 99 years. Now I am looking for a lease extension. I am unclear about additional expenses, could you tell me please how much I should expect to spend on this?
  • I am going to purchase a flat in Tufnell Park. My offer is subject to the lease extension. The flat owner’s has given to the freeholder the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Barnsley Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • My mortgage lender requires a £500 fee for their for a "deed of substituted security" for the lease extension for my flat in Tufnell Park... I can find no reference of this in my mortgage booklet... is this a usual charge?
  • Ref a property in Tufnell Park. upper maisonette. sixety yrs left. I have negotiated a lease extension price of £14k for 135yrs. Freeholder also insisted on Notice of Claim which I think is a tad over the top. Advice required.
  • My dad has a share of freehold, with two other leaseholders in a building in Tufnell Park. House divided into three apartments. He has a lease, which has just under 77 yrs remaining. How much would it cost for a lease extension and how many years would he need to extend by?
  • Coming up to two years that I have owned my studio flat in Tufnell Park. I have seventy five yrs unexpired lease on the lease. I am now wanting to purchase a share of freehold or extend my lease. 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 drags to LVT)?
  • It says on your website the anticipated fee to extend a lease is £495. Is that the total cost including vat and the HMLR fee? The premium has already been agreed with the freeholder for the lease extension for my ground floor flat in Tufnell Park
  • We have a garden flat in Tufnell Park with a lease of 72 years left with a value of around £370000 we want to add 90 years to it, how much is that likely to cost?

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