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Buying your freehold
Micawber_2
Posts: 5 Forumite
This is my first post so I hope its in the right place. Apologies if its not.
My wife and I have just borrowed some extra money on our mortgage to pay for an extension.
The builders are due in at the end of the month and as yet I have not informed the people we pay ground rent to (currently less than £4 a year) that we are extending. I understand I should inform them about our plans and that a fee may be payable.
I have a number of questions that I would appreciate ome advice on.
How much does a firm typically charge when giving consent for an extension?
If I inform them at this late stage could they stop or delay the extension going ahead?
If I fail to tell them about the extension what could the consequences be?
What would be the advantages of us purchasing the freehold from them? I recollect I had a letter from them about five years ago saying I could do this for about £300.
Sorry to ask so many questions on my first post!
My wife and I have just borrowed some extra money on our mortgage to pay for an extension.
The builders are due in at the end of the month and as yet I have not informed the people we pay ground rent to (currently less than £4 a year) that we are extending. I understand I should inform them about our plans and that a fee may be payable.
I have a number of questions that I would appreciate ome advice on.
How much does a firm typically charge when giving consent for an extension?
If I inform them at this late stage could they stop or delay the extension going ahead?
If I fail to tell them about the extension what could the consequences be?
What would be the advantages of us purchasing the freehold from them? I recollect I had a letter from them about five years ago saying I could do this for about £300.
Sorry to ask so many questions on my first post!
0
Comments
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Hi Micawber
A number of the questions can't be answered as it is dependant on the lease you have,you need to consult your lease for instance to see if you are allowed to make alterations and if they need to be informed .............you can find lots of info here
http://england.shelter.org.uk/advice/advice-186.cfm
but the main thing is checking your lease.
The other thing is ,if you can buy your freehold ,it is better to do so,that way YOU decide what you can or can't do,within the law obviously:)0
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