Extend Your Lease guide discussion

techno12

A little follow-up to my earlier post (extending lease on my flat but solicitor being non-communicative and not interested after the original June completion date).

I'm still waiting!

Finally heard from her the other week saying "good news, the freeholder's solicitor has replied. Aiming for new completion date of 10 Aug".

Naturally this date has been and gone and I've heard nothing, and no replies to my emails.

Remember, I paid all money back in mid-June (so lost out on £20 interest so far)

Looks like I'll have to head to their office in person to find out what's going on, which I can now do as my place of work has moved office and it's about 150m away on the same street.

So frustrating!

EDIT: Finally completed 10th Sept - almost 6 months after I kicked off the process. Not done and dusted yet though as I have no documents detailing the new lease. Apparently there's a huge backlog at the Land Registry and my solicitor says it'll be several months before I receive the final documentation.

want2bmortgage3

Hi,
I am looking to sell my let out property. Before I market it I want to extend the lease which is currently 63 years.
I have been quoted 20k all in to extend back to 99. The market value is 180-190k.
I did have a mortgage overdraft which has now been cut leaving me with no spare funds. Is there any way of funding this extension before selling?
Thanks

chuzupop_2

Hello all. Is this where I post a question on lease extensions please?

chuzupop_2

Can anyone tell me how to post a question on this forum please?

PeggyM37

My brother is in the process of buying a flat with 87 years left on the lease. He has enquired about extending the lease but his mortgage broker has told him that "this has to be apportioned over the whole block".


This does not seem right to me. Each flat has its own lease. Is he confusing this issue with all the flat owners taking over the freehold (a Commonhold application?) Any advice greatly appreciated. Thanks.

dnees

Mum needs to extend/renew her lease. We will have to pay for it, could be £45,000. Does any one have advice on the tax implications of us doing this? Thanks.

dnees

Just type your question where you typed before. Make sure you are on the right forum, this is 'lease'.

liffey

I have been given a quote by the freeholder of my flat of £4,986 plus costs to add 90 years to the lease. There are 78 years currently remaining.

As this is broadly in line with the online calculators both on this site and the Leasehold Advisory Service, I am not convinced that there is any point in paying a surveyor for a second opinion.

That said, this is my first time dealing with this type of situation so I am asking the advice of others. Should I get a surveyor?

Thanks

AndyPandy95

I've recently entered into negotiations with my landlord to extend lease. I must admit after his counter proposal he has been quite good in agreeing for us to communicate by letter and phone ourselves, so saving me unnecessary fees. We have agreed a price and he's told me his valuer/surveyors fees are £1200 + VAT and solicitors fees are £625 + VAT, they are both London based companies. I think these costs are unreasonable and have offered to pay £600 + VAT for solicitor and same for valuer. He now refuses to negotiate anymore and says he has spent a lot of time trying to be helpful and save me costs and he doesn't consider these fees unreasonable. Any advice much appreciated

bb69

Hi all

I feel sick..Thought I had 81 years on my lease, but have realised its 80 and will fall below 80 next June. (I'm no Carol Vorderman, so hope my maths is right this time lol)

I received a letter from Landlord last year November with a price, have had a challenging year so had not progressed this.

Am ready to progress this now, even more so as I have realised i'm at 80 years.

Just waiting for quotes from solicitors. Advice please - Should I serve the formal section 42 notice once I instruct them - probably in a couple of weeks?

Just concerned re if the process isn't completed by June next year I will have to pay more?

Thanks