Wool Lease Extensions

Sample questions relating to Wool Lease Extensions

Hi. I need a to have a look at my lease extension ahead of it being formalised just to ensure there's nothing that I haven't seen - it's just a surrender and regrant with a few small changes.

I purchased a garden flat in Wool. The start date for the lease was in 1991 for 99 years. Now I am looking to extend the lease. I am not entirely sure about additional expenses, could you tell me please how much I should expect to spend on this?

I'm deliberating over buying a garden flat (leasehold) but the landlord has been absent for around 15yrs. I wonder whether it will be cheaper to try to purchase the freehold or to get a lease extension and apply for right to manage?

I am looking to either purchase the freehold or a lease extension of my property in Wool and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with National Westminster Bank to free up equity. The broker handling the remortgage suggested I get two quotes : one for the lease extension and one for the freehold acquisition .The lease commenced in 1991 and since then the ground rent has increased from £38.00 per annum to £300 per year.

I am a FTB of a leasehold flat in Wool. The lease has just fivety eight years balance left and ground rent is £50. Is it possible for the seller to serve the Initial Notice 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 is legal but will it be very time consuming to the homeowner? Unfortunately the landlord can not be found, so I am not sure how this will play out.

I am concerned that my daughter might have had the wool pulled over her eyes. She put in an offer on a three bedroom second floor purpose built flat in Wool, where the lease is around seventy five years but she was advised by the estate agents that the current owner had extended it to 125 years. She has now been informed the current owner was holding off for her to instruct solicitors before commencing with the lease extension. Sounds odd to me, also it may take a while to sort it all out. Am I being too sceptical?

I am looking to extend the lease on my garden flat in Wool I am looking for help to verify the premium. I have a premium value that the freeholder has given me. I would like to go forward as soon as possible, but for the right premium and fee.

I have 77 years remaining on my lease of a ground floor flat in Wool, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable

I am currently negotiating a lease extension for my flat in Wool 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?

I was hoping you might be able to tell me the process of how to apply for a lease extension for my one bed flat in Wool

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