Questions and Answers: Walmley Lease Extensions

  • I am fairly sure that our has advised us incorrectly concerning a lease extension and I want to know how to go about making a formal complaint
  • Hello. I need someone to have a look at my lease extension before it's signed just to ensure there's nothing that I haven't seen - it's just a reissue with a few small amendments.
  • I'm looking for an apartment to buy in Walmley and I'm not really familiar with the leasehold concept. I've identified a three bedroom ground floor purpose built flat I like with a 90 years lease. My research reveals that I can apply for a lease extension after a couple of years, but:- Is this a given?
  • I am thinking about buying an auction property and came upon a one bed flat in Walmley. It has just 50 year lease..the seller being mortgagees in possession dont want the aggravation of negotiating a lease extension..what are the disadvantages of this other than the costly fee to extend the lease and reduced chance of obtaining a mortgage with Platform Home Loans Ltd?
  • My partner and I have a leasehold flat in Walmley with 65 years to run. Last year we were quoted a deal to grant a lease extension for a further thirty years but also increase ground rent from notional to a little more..plus a premium I think of approximately 14k. We have now decided to move forward but do we now have to renegotiate?
  • I an interested in finding out more about leasehold property buying. We intend to buy a 1920s detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Walmley area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to lease out the property?
  • I'm living at parents but have a garden flat in Walmley let out which has a 67 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 Walmley 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 13k. Should I keep or sell the flat?
  • I know that others in the same building previously 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 on the prices by others . This would save on double valuation fees. Is this advisable?
  • We currently own a studio flat in Walmley 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 77 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. Do you have some advice on this? Should I contact the landlord first and will they be able to give me a cost?
  • I have 54 years remaining on my lease of a ground floor flat in Walmley, the Landlord requires a £15k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is too high

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