Wylam Lease Extensions

Questions and Answers: Wylam Lease Extensions

I have shares in the freehold of buildings comprising of 8 flats each. 2 of the leaseholders want a lease extension and I'm curious about the procedure for this

I am looking for a rough estimate of what a lease extension will cost for a flat I would like to buy. It has 75 years outstanding.

In 2010 I purchased a leasehold flat in Wylam. I have built a huge extension and have not informed the freeholder. What should I do?

I am a freeholder of a block of flats in Wylam, and the tenants are in the process of being granted lease extensions. I should hopefully get the money next week. As I am not on self assessment do I get in touch with the tax authorities ?

My father has a share of freehold, with two other leaseholders in a building in Wylam. House divided into three apartments. He has a lease, which has nearly sixety yrs unexpired lease. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?

I am the freeholder of a Edwardian property split into two flats. I live in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current fivety six years. What are my next steps?

I'm living with my mum and dad but have a garden flat in Wylam let out which has a 55 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 Wylam 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. Should I keep or sell the flat?

I note that your website states the anticipated fee for dealing with a lease extension is £495. Is that the total cost excluding vat and the HMLR fee? The price has already been negotiated with the freeholder for the lease extension for my two bedroom first floor purpose built maisonette in Wylam

We are in the throws of buying a home (a three bedroom first floor purpose built flat inWylam with share of freehold). Throughout our search, we were always looking at apartments that had a minimum eighty five years left. We came across a apartment we liked and the estate agent assured that the lease term was not an issue. Yesterday our told us the lease only has 57 years and therefore needs a lease extension. Should we run 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?

I am planning on refinancing my two bedroom first floor purpose built maisonette in Wylam and the bank that I am looking to move to requires a minimum 85 years on the leasehold of my property in order for them to progress matters. I have found that I currently have around seventy two years on the leasehold so looking for some advice, guidance, and some quotes to start the lease extension process

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