Uttoxeter Lease Extensions: Q and A’s

  • My wife and I have just purchased a one bedroom apartment based inUttoxeter and I'm considering extending the lease as soon as practicable e.g. in 24 months of ownership
  • I’m just looking for a two bedroom second floor purpose built flat to buy in the Uttoxeter area and was enquiring how much would it cost to extend a lease? It has seventy five years remaining...
  • I have been in touch with my freeholder for a lease extension for my flat in Uttoxeter. His has been in contact concerning costs etc. I need a quote for dealing with the legalities to secure a lease extension. The apartment currently has a 99 YR lease which started Septembmer 1987.
  • What will it cost me and what is the best way to get a lease extension started? I have slightly less than 75 years unexpired lease on my lease on a three bedroom ground floor purpose built flat in Uttoxeter. I have called the managing agents who represent the head landlord and they provided me with the number of the surveyor. I left a phone message for the valuer but I am not receiving any calls back.
  • I am looking at buying an auction property and came upon a studio flat in Uttoxeter. It has just 41 year lease..the vendor being mortgagees in possession dont want the aggravation of negotiating a lease extension..what are the drawbacks of this other than the costly fee to extend the lease and decreased chance of obtaining a mortgage with Aldermore?
  • Coming up to 2 years that I have owned my ground floor flat in Uttoxeter. I have 66 yrs outstanding on the lease. I am now looking either to purchase a share of freehold or a lease extension. 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: Is there a benefit in getting a Uttoxeter based or any will do fine?
  • 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 extending the lease?
  • We are acquiring a ground floor flat in Uttoxeter which has share of freehold and a leasehold. The lease was starting to get low so the vendor commenced extending the lease. The seller’s lawyer has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the house buying process is for our to do OS1 search on the property title. The concern here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number has not been issued. Is it right that we must wait until the new lease is registered?
  • My wife and I are aware that others in the same block had already had a lease extension, and the freeholder seemed amenable. Therefore is seems worth taking risk of not having formal survey and base the initial offer on previous premiums paid . This would save on double valuation charges. Is this advisable?
  • I am currently negotiating a lease extension for my flat in Uttoxeter 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?

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