Wirral Lease Extension - Your Legal Fees Calculator
Wirral Lease Extensions: Q and A’s
We have seen a house for sale for £215k and we are very keen on but we've just found out that it is leasehold. There are 798 years remaining so a lease extension is not an issue. 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 25 years without the house being ours. Any information would be much appreciated.
This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
I would like to have my residential flat leasehold extension premium valued. The flat is in Wirral, and my lease will reach 71 years this May. Could you advise me about the costs and time-frame to obtain an appraisal? Also, do you represent your clients at the Tribunal court?
I'm considering purchasing a one bedroom first floor purpose built flat (leasehold) but the landlord has been missing for circa 15yrs. My question is would it be less expensive to try to acquire the reversionary title or to get a lease extension and apply for right to manage?
Regarding a property in Wirral. GFF maisonette. 54 yrs unexpired. I have negotiated a lease extension price of £20k for 125yrs. Freeholder also requested Initial Notice which I think is a bit over the top. Can you assist.
I am looking to buy a one bed flat in Wirral for asking price of 145k, which has 71 years lease left on it. Seller doesn't want to extend the lease for even if I were to pay the money to the seller. My question is: If landlord does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
My conveyancers (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
Me and my wife would like to know the cost of a lease extension valuation for a property based in Wirral. Is this something you can help us with?
Just been over two years that I have been in my two bedroom first floor purpose built maisonette in Wirral. I have 79 yrs outstanding on the lease. I am now looking either to buy a share of freehold or a lease extension. I acquired the property for 350K, it is now roughly 425k. I understand that 90 years is the period most people extend. I spoke to my property lawyers about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
I have a lease of 75 years remaining on my flat in Wirral. 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?