Underwood Lease Extensions: Q and A’s

  • I have an interest in the freehold of buildings comprising of six flats each. Two of the leaseholders want a lease extension and I'm enquiring about the procedure for this
  • My partner has a flat in Underwood which we have just put on the market. The leasehold has circa 70 years residual lease term on it and we are concerned this will come up for anyone who may be interested. Can you please assist on how we commence arranging a lease extension? Thank you.
  • I am going to purchase a flat in Underwood. My offer is conditional upon a lease extension. The seller’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 Platform Home Loans Ltd. Moreover, which are the following lease extension steps to complete the purchase?
  • We are in a building consisting of four flats in Underwood and have been offered to buy the freehold for 8k per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • I would like to know the likely charges and the optimum way to get a lease extension started? I have roughly 67 years remaining and I own a garden flat in Underwood.
  • I am in need of some help with a lease extension. I live in Glasgow but the property in question is based in Underwood. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • My partner and I are hoping to purchase a home (a 2 bed flat inUnderwood with share of freehold). Throughout our search, we were always looking at flats that had a minimum 83 years unexpired. We identified a place we fell in love with and the selling agent promised us that the lease was long albeit not specifying a number. Today our informed us the lease only has 79 years and thus requires a lease extension. Should we walk away, or should we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?
  • My wife and I are aware that others in the same building had already had a lease extension, and the landlord was amenable. It therefore appears worth taking risk of not having formal survey and base the initial offer on on the prices by others . This would save on double valuation fees. Would you suggest such a course of action?
  • We wanted an estimate on the cost of a lease extension and a few more questions answered regarding a lease extension for my studio flat in Underwood
  • I'm looking for some advice with regard to a lease extension on my ground floor flat in Underwood. 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?

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