Woodley Lease Extension - Your Legal Fees Calculator
Recently asked questions relating to Woodley Lease Extensions
Hello, I stumbled upon your site. I'm seeking prices on what it cost to extend a lease of a studio flat in Woodley. It's on the market at the moment but has around 56 years left on the lease
My wife has an apartment in Woodley which we have just put on the market. The leasehold has around fivety eight years residual lease term on it and we are concerned this will come up for anyone who may be interested. I am after more information on how we get started on a lease extension? Thank you.
I plan on buying a flat based in Woodley. My offer is conditional upon a lease extension. The owner’s solicitors has served the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Virgin Money. Moreover, which are the following lease extension steps to complete the purchase?
I'm deliberating over buying a studio flat (leasehold) but the landlord has been absent for roughly 15yrs. My query is would it be less expensive to try to buy the reversionary title or to get a lease extension and apply for RTM?
We are proceeding with a purchase of a ground floor flat in Woodley. I was advised that the lease had been extended (78 years outstanding prior to extension). The sales particulars said "sold with a long lease". It turns out as we are about to exchange of contracts we find that there has been no lease extension. The flat owner apparently has a quote but no money to extend as a result the flat owner wishes to exchange and use the deposit monies to extend the lease. My question is is it not odd that my solicitors didn't pick this up far earlier than just before exchange?
My partner and I have owned a leasehold flat for about fifteen years. It now has sixety one years left on the lease. Following a year of difficult negotiations through my conveyancers and, mainly, surveyor I now have an offer from the freeholder. I now have to make a decision as to whether to accept it or go to a Tribunal and would appreciate advice.
Coming up to two years that I have owned my maisonette in Woodley. I have 63 yrs outstanding on the lease. I am now wanting to buy a share of freehold or extend my lease. I acquired the property for 320K, it is now roughly 450k. I understand that 90 years is the period most people extend. I spoke to my conveyancing practitioners 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?
If a leaseholder 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 doing it?
Hopefully an easy question for you, how much does it cost for a lease extension on a residential property in Woodley for a one bed flat - section 42 is already served?
Me and my husband are in the throws of buying a home (a two bedroom ground floor purpose built maisonette based inWoodley with share of freehold). Throughout our search, we were always looking at properties that had a minimum 84 years outstanding. We came across a apartment we liked and the selling agent assured that the lease was long albeit not specifying a number. This morning our lawyers told us the lease only has 69 years and thus requires a lease extension. Do we walk away, or do we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?