Questions and Answers: Wigston Lease Extensions

  • My fiance and I have just bought a three bed conversion flat inWigston and I'm thinking about a lease extension as soon as possible e.g. after two years
  • I’m about to offer on a one bedroom apartment to purchase in the Wigston area and was after more information on how much would it cost for a lease extension? It has 56 years residual lease term...
  • Hello, I stumbled upon your site. I'm looking for prices on what a lease extension will cost for a garden flat based in Wigston. It's on sale at the moment but has approximately sixety seven years left on the lease
  • My partner has an apartment located in Wigston which we have just put on the market. The leasehold has circa seventy one years outstanding on it and we are concerned this will come up for anyone who may be interested. Can you please assist on how we commence arranging a lease extension? Thank you.
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Wigston and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a refinance with Godiva Mortgages Ltd to release of equity. The adviser dealing with the remortgage suggested I get two quotes : one to extend the lease and one for the freehold purchase .The lease began in 1979 and since then the ground rent has been raised from £38.00 per year to £125 per annum.
  • I am looking to buy a one bed flat in Wigston for asking price of 145k, which has 65 years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My question is: If landlord does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
  • I do not need a lease extension but I do need a vesting order on a property I want to buy in Wigston. The house is freehold but the garden is officially leasehold, 995 year lease from 1854. Its the garden area.
  • I am the freeholder of a property in Wigston and a leaseholder has requested a lease extension. Her so called valuation expert has suggested a figure of £8,000, but has upped this to £10,000 at the drop of a hat. My valuer has recommended a much higher amount. She does not appear to wish to negotiate wanting to go to LVT. If a lease extension does go to a FTT, can I handle the matter myself, just armed with the valuations I have? If not, what fee would I be likely to face?
  • I am currently in the process of refinancing my garden flat in Wigston and the bank that I am looking to switch to needs at least 80 years remaining on the lease in order for them to take the mortgage forward. We currently have around sixety three years on the leasehold so require some help, guidance, and some quotes to start the lease extension process
  • I am currently negotiating a lease extension for my flat in Wigston 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?

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