Top Ten Questions relating to Wallington Lease Extensions

  • I bought a property in Wallington and it has about 61 years unexpired. I'd like to arrange a lease extension by twenty years
  • I acquired a ground floor flat located in Wallington with a leasehold unexpired of 63 years. I am enquiring about how much it will cost me to extend my lease
  • I am going to purchase a flat in Wallington. My offer is conditional upon a lease extension. The vendor’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 Bank of Ireland. Moreover, which are the following lease extension steps to complete the purchase?
  • I'm looking for an apartment to purchase in Wallington and I'm not really familiar with the leasehold concept. I've identified a garden flat I like with a 90 years lease. My research reveals that I can go for a lease extension having owned the property for 2 years, but:- Should I be looking for some conditions that would prevent me for getting a lease extension?
  • My wife and I have a first floor flat in Wallington with sixety years left. Last year we were quoted a deal to have a lease extension for another fifty years but also uplift the ground rent from nominal to £300 per year..plus a premium I think of about 14k. We have now decided to proceed but do we now have to renegotiate?
  • I own a share of the freehold. There are four flats in the building. All the leaseholders are now seeking lease extensions. Are you willing to help us with this situation?
  • I'm living at mother and father but have a one bedroom apartment in Wallington let out which has a 64 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 Wallington 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 21k. Should I keep or sell the flat?
  • I am the freeholder of a property in Wallington and a leaseholder has requested a lease extension. Her so called valuation expert has given a figure of £8,000, but has increased this to £10,000 at the drop of a hat. My surveyor has come back with £12,520. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to a FTT, can I deal with this myself, just armed with the valuations I have? If not, what charges would I be likely to face?
  • Are you able to provide an estimate to extend my aunt’s lease on a one bedroom first floor purpose built flat in Wallington. She recently got a price from the landlord for a lease extension but I am not sure it is too high.
  • Do you handle lease extensions on land? (a plot of land in Wallington with 82yrs remaining)

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