Waterloo Lease Extension - Your Legal Fees Calculator
Questions and Answers: Waterloo Lease Extensions
I inherited a property in Waterloo and it has around 67 years remaining. I'd like to arrange a lease extension by twenty years
We have seen a house for sale for £185,000 and we are very keen on but we've just discovered that it is leasehold. There are 798 years remaining so a lease extension is not a worry. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any guidance would be much appreciated.
I will soon view a one bedroom flat, although not exactly my ideal property it has enough positives to suit me very well for my present circumstances. However after obtaining a copy of the title I've learnt that it only has 58 years remaining on the lease. It is also a repossession so I'm guessing that the lender will not be interested in doing a lease extension. My main concern is would it be difficult to sell on without a lease extension?
I am concerned that my niece might have had the wool pulled over her eyes. She put in an offer on a ground floor flat in Waterloo, where the lease is approximately seventy five years but she was advised by the estate agents that the owner had extended it to 99 years. Only now has she been told the seller was holding off for her to retain lawyers before commencing with the lease extension. Sounds devious, also it could take time to sort it all out. Am I being too sceptical?
I am a landlord of a block of flats in Waterloo, and the lessees are in the process of being granted lease extensions. I anticipate receiving funds next month. Are there any tax implications, the property is in joint names with my husband ?
I am thinking about buying an auction property and came upon a studio flat in Waterloo. It has just 41 year lease..the seller being mortgagees in possession will not want to mess around with seeking a lease extension..what are the disadvantages of this other than the huge fee to extend the lease and decreased chance of obtaining a mortgage with HSBC Bank?
I am in need of some help with a lease extension. I live in Belfast but the property in question is based in Waterloo. I would be grateful if you can give me a call when you get a chance to discuss the case.
If somebody owns a flat with a lease of under 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 currently own a studio flat in Waterloo 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 seventy two years left. Not sure what to do, have read some bits on the web saying it will be 20k 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 am currently negotiating a lease extension for my flat in Waterloo 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?