Frequently asked questions relating to Walton On Thames Lease Extensions

  • I'm looking for a flat to purchase in Walton On Thames and I'm not really familiar with the leasehold arrangement. I've identified a studio flat I like with a 90 years lease. My research reveals that I can apply for a lease extension having owned the property for 2 years, but:- Should I be looking at some caveats that would prevent me for getting a lease extension?
  • I am a first time buyer of a leasehold flat in Walton On Thames. The lease has only 66 years residual lease term and ground rent is £75. Is it possible for the seller to serve the Initial Notice and then assign this right to me as the purchaser on the day of completion so that I don't have to wait for the 2 year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is legal but will it be very time costly to the current owner? Unfortunately the landlord is absent, so I am not sure how this will play out.
  • I am a landlord of a block of flats in Walton On Thames, and the lessees are in the process of being issued lease extensions. I should hopefully get funds within a month or so. As I am not on self assessment do I write to HMRC ?
  • I am thinking about acquiring an auction property and came upon a one bed flat in Walton On Thames. It has just fifty year lease..the seller being mortgagees in possession will not want the aggravation of negotiating a lease extension..what are the drawbacks of this except for the costly fee to extend the lease and decreased chance of obtaining a mortgage with Yorkshire Building Society?
  • We are considering buying a garden flat in Walton On Thames which is a leasehold. I am wondering what are the pros and cons of that - what happens when lease expires, the cost of a lease extension, can the freeholder of the land evict me from my own flat and prevent me from extending the lease?
  • I am in need of some help with a lease extension. I live in Glasgow but the property in question is based in Walton On Thames. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • Coming up to 2 years that I have owned my one bedroom second floor purpose built flat in Walton On Thames. I have 64 yrs outstanding on the lease. I am now wanting to purchase a share of freehold or a lease extension. I purchased the property for 342K, it is now roughly 445k. 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of financing - do they add it to their existing mortgage or pay it out in cash?
  • I note that your website states the likely fee for dealing with a lease extension is £495. Is that the total cost excluding value added tax and the HMLR fee? The price has already been agreed with the freeholder for the lease extension for my three bed flat in Walton On Thames
  • My wife and I are concerned about seeking a lease extension from an objectionable landlord. Even though the legal procedures were followed under the 1993 Act, the landlord still tried to get ground rent of £200 doubling every twenty years of the new lease. Can you assist?
  • I am currently in the process of remortgaging my studio flat in Walton On Thames and the next lender that I am looking to move to needs a minimum 80 years on the leasehold of my property in order for them to take the mortgage forward. We currently have around seventy years on the leasehold so looking for some help, guidance, and some quotes to get the wheels in motion for a lease extension

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