Top Ten Questions relating to Wickersley Lease Extensions

  • I bought a property in Wickersley and it has nearon 64 years residual lease term. I'd like to arrange a lease extension by twenty years
  • I am looking into the costs of carrying out a lease extension for my GFF in Wickersley, and would like some figures on that.
  • I am looking at acquiring an auction property and found a studio flat in Wickersley. It has just 49 year lease..the seller as mortgagees in possession dont want to mess around with negotiating a lease extension..what are the drawbacks of this except for the costly fee to put a new lease on it and reduced chance of getting a mortgage with Virgin Money?
  • We would like to extend our lease having owned the flat for 2 years as of 21st Jan 2015. It has around sixety years remaining currently. Hoping to get a lease extension with a further 90 years as quickly and stress free as possible.
  • My dad has a share of freehold, with two other leaseholders in a building in Wickersley. House split into three flats. He has a lease, which has around 77 yrs unexpired lease. How much would it cost for a lease extension and how many years would he need to extend by?
  • I am the freeholder of a Georgian property split into two flats. I live in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 66 years. What are my next steps?
  • I'm living with my parents but have a garden flat in Wickersley let out which has a fivety four 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 Wickersley 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. Not sure sure whether to hold on or sell the flat?
  • If somebody owns a flat with a lease of less than 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?
  • I know that others in the same building had already had a lease extension, and the landlord was amenable. Therefore is seems worth taking risk of avoiding a formal survey and base the initial offer on previous premiums paid . This would save on double valuation fees. Is this advisable?
  • We wanted an estimate on the cost of a lease extension and a few more questions answered regarding a lease extension for my one bedroom apartment in Wickersley

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