Tunstall Lease Extensions: Q and A’s

  • Hello. I need a to review my lease extension before it's formalised just to ensure there's nothing that I haven't seen - it's just a surrender and regrant with a few small variations.
  • I invested in buying a garden flat in Tunstall. The start date for the lease was in 1997 for 99 years. Now I am looking for a lease extension. I am uncertain about further expenses, could you tell me please how much I should expect to spend on this?
  • I'm looking for an apartment to purchase in Tunstall and I'm not really familiar with the leasehold tenure. I've found a one bedroom apartment I like with a 82 years lease. My research reveals that I can get a lease extension having owned the property for a couple of years, but:- Is this a given?
  • I am considering bidding for an auction property and came upon a studio flat in Tunstall. It has just 49 year lease..the seller as mortgagees in possession dont want the aggravation of seeking a lease extension..what are the disadvantages of this except for the expensive fee to put a new lease on it and decreased chance of obtaining a mortgage with Alliance & Leicester ?
  • Offer accepted on a a ground floor flat in Tunstall, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer sent through which states the lease as 82 years.Contracts were due to be exchanged in a couple of days. My query is how is possible that the estate agent got it so wrong?
  • I am looking to buy a one bed flat in Tunstall for asking price of 156k, which has 62 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 landlord 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 am planning to extend the lease on my garden flat in Tunstall I am looking for a local company to calculate the premium. I have a quote from the freeholder. I would like to go forward as soon as possible, but for the right premium and fee.
  • I'm living at parents but have a garden flat in Tunstall let out which has a 70 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 Tunstall 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. Not sure sure whether to hold on or sell the flat?
  • I do not need a lease extension but I do need a vesting order on a property I want to purchase in Tunstall. The house is freehold but the garden is officially leasehold, 995 year lease from 1854. Its the garden area.
  • If a leaseholder 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?

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