Lease Extensions in Willingham

Questions and Answers: Willingham Lease Extensions

I have an interest in the freehold of 2 blocks of flats comprising of 8 flats each. Two of the leaseholders want to extend their leases and I'm curious about the the process

I am looking to either purchase the freehold or a lease extension of my property in Willingham and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously refinance with Halifax to free up equity. My adviser handling the remortgage suggested I get two estimates : one for the lease extension and one for the freehold purchase .The lease started in 1972 and since then the ground rent has been raised from £25.00 per year to £300 per annum.

I would like to know the likely financials and the optimum way to start the lease extension process? I have slightly more than seventy eight years remaining and I own a studio flat in Willingham.

I have my suspicions that my niece might have had the wool pulled over her eyes. She put in an offer on a one bedroom apartment in Willingham, where the lease is circa sixety nine years but she was advised by the estate agents that the vendor had extended it to 125 years. Only now has she been told the homeowner was holding off for her to retain solicitors ahead of instigating the lease extension. Sounds unscrupulous, also it may take a while to sort it all out. Am I being too sceptical?

My husband and I have a ground floor flat in Willingham with 54 years to run. Ten months ago we were quoted a deal to grant a lease extension for a further thirty years but also uplift the ground rent from nominal to £250 per annum..plus a premium I think of approximately 10k. We have now decided to go ahead but do we now have to renegotiate?

I have a share of the freehold. There are four flats in the building. All the leaseholders are now seeking lease extensions. What are the timescales to grant a lease extension?

Offer accepted on a a one bedroom apartment in Willingham, were told numerous times by the EA that the lease had over 100 years, we have just had our mortgage offer sent through which states the lease as 85 years.We are soon to exchange contracts within a week. My question is why has this only just come to my attention by my ?

I'm looking for some help with regard to extending the lease on my flat. I'll be looking to do this in six months time as we have to move then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the tribunal route. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

My wife and I are aware that others in the same building had already had a lease extension, and the landlord was amenable. It therefore appears worth taking risk of avoiding a formal survey and base the initial offer on previous prices . This would save on double valuation fees. Is this advisable?

I have a lease of seventy years remaining on my flat in Willingham. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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