FAQs concerning Wickford Lease Extensions

  • Me and my fiance are thinking about a lease extension for our ground floor flat located in Wickford and we don't fully understand the letter that we got from our freehold company. Can you please assist us with this situation?
  • We have just bought a garden flat located inWickford and I'm deliberating a lease extension as soon as possible e.g. after 24 months of ownership
  • I want to acquire a leasehold property and lease extension. The owner has been there over 2 years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • The terms for the lease on my apartment in Wickford are 101 years from 1 Feb 1980. Please provide me a quote to extend the lease if I give you more information please?
  • I am a first time buyer of a leasehold flat in Wickford. The lease has just sixety five years remaining and ground rent is £50. Is it possible for the homeowner to serve the Notice of Claim and then assign this right to me as the buyer once I complete the buying process so that I can avoid waiting for the two 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 may be possible but will it be very time costly to the current owner? Unfortunately it’s the case of an absent landlord, so I am not sure how this will play out.
  • We are considering buying a ground floor flat in Wickford which is a leasehold. I am wanting to weigh up the advantages and disadvantages of that - what occurs when lease ends, how much it costs to extend it, can the freeholder of the land evict me from my own flat and block me from having a lease extension?
  • I am interested in getting my lease extended and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
  • I am the freeholder of a 1930’s property split into two flats. I reside in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current sixety seven years. What are my next steps?
  • I'm living with my parents but have a studio flat in Wickford let out which has a sixety three 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 Wickford 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?

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