Frequently asked questions relating to Woolavington Lease Extensions

  • I have got a leasehold flat in the Woolavington area and was wondering whether I could obtain a lease extension. What are your processes and fees. Has sixety eight years residual lease term
  • I am looking for a rough estimate of what a lease extension will cost for a flat I intend to buy. It has 70 years outstanding.
  • I am about to put an offer in on a one bedroom apartment in Woolavington with a lease of 73 years but not sure how much it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • I plan on buying a flat in Woolavington. My offer is subject to the lease extension. The owner’s has given to the freeholder the Section 42 Notice. 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 Santander. Moreover, which are the following lease extension steps to complete the purchase?
  • I have my suspicions that my niece is being hoodwinked. She put in an offer on a maisonette in Woolavington, where the lease is nearon 60 years but she was informed by the selling agents that the flat owner had extended it to 125 years. Only now has she been advised the homeowner was holding off for her to instruct lawyers ahead of instigating the lease extension. Seems devious, also it may take a while to sort it all out. Am I reading too much into it?
  • Offer accepted on a a garden flat in Woolavington, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer sent through which states the lease as 82 years.Contracts were due to be exchanged within a week. My query is Should I tell the vendor that I will only proceed with the purchase (at the same price) on the condition they carry out a lease extension?
  • I would like some guidance on purchasing a leasehold residence. We intend to buy a link detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Woolavington area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to rent out the property?
  • I'm living with my parents but have a studio flat in Woolavington let out which has a fivety eight year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Woolavington for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 13k. Not sure sure whether to hold on or sell the flat?
  • I note that your website states the likely fee for dealing with a lease extension is £495. Is that the total cost including vat and the HMLR fee? The price has already been negotiated with the freeholder for the lease extension for my garden flat in Woolavington
  • I am currently negotiating a lease extension for my flat in Woolavington 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?

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