Valley Lease Extensions: Q and A’s

  • Me and my partner have just completed on a garden flat inValley and I'm considering a lease extension as soon as I can e.g. after two years
  • I have a lease of 77 years on a property which I am looking to buy how much am I looking at for the cost to extend the lease?
  • I need to talk to you about a flat in Valley, I am considering buying at auction in the next few days. The flat has a short lease and I wanted to inquire about what it would cost to get a lease extension and for your services.
  • I am in need of a lease extension for my flat in Valley and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • I'm living at mum and dad but have a maisonette in Valley let out which has a sixety five 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 Valley 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?
  • We are concerned about seeking a lease extension from an objectionable freeholder. Even though the legal procedures were adhered to under the 1993 Act, the freeholder still attempted to get ground rent of £300 increasing by 100% every twenty years of the new lease. Can you assist?
  • I know that others in the same building had already had a lease extension, and the freeholder was reasonable. Therefore is seems worth taking risk of not having formal valuation and calculate the initial offer on previous premiums paid . This would save on double valuation fees. Would you recommend such a course of action?
  • I require an estimate to extend my aunt’s lease on a garden flat in Valley. She already has a price from the landlord for a lease extension but I am not sure it is reasonable.
  • We currently own a ground floor flat in Valley 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 70 years left. Not sure what to do, have read some bits on the web saying it will be 15k plus to get a lease extension. Can you offer some advice on this? Do I contact the landlord first and will they be able to give me a cost?

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