Forum Replies Created
You can also trawl the site for decisions. See for instance LON/00AG/LSC/2018/0043 – dated 23 November 2018 – on the Tribunal part of the LEASE website. From reading this sort of thing you can get an idea of the issues which arise, amounts at stake, lawyers involved, the approach taken, and so on.
Hi, it might be worth reviewing the LEASE website and in particular their guides. Visit http://www.lease-advice.org.
Yes! Although it hasn’t “completed” yet (imminent).
My lease is/was at 103 years. Incidentally I forgot to mention the initial cost of my own surveyor – so add £1000. Ouch!
Regards, Frederick Price.
Hi, just to say I am close to concluding a lease extension from Camden on my one bedroom flat through my own professionals (I had initiated this before Leasehold Solutions got in touch). The total cost including lease premium is £6,563.70. I started the process last year, with my survey taking place in January of this year. I have paid for my lawyer / surveyor, those for the Council, and disbursements. Touch wood, it has seemed fairly painless so far, if you are prepared to pay and be patient. The benefit is that you get a 90 year lease extension, so future proofing the property in terms of title.
My understanding is that you will be encouraged by the Council to use (and pay for) a lawyer and a surveyor, the latter to opine on the value of the proposed lease extension. You should also budget for paying the Council’s legal / surveying costs. So, if the actual cost of the lease extension is say £2500 (guesstimate!), there might be further costs of £5-7K when all the extras are totted up. You might be able to “do” the valuation yourself, and indeed the legals I suppose, but how would you know you are going about it the right way? Hence the reason why most people use professionals. I’m not sure if you can wriggle out of paying the Council’s costs – worth researching I would have thought.
Hi – concerning stopcocks, in our street front property the water could be shut off from the basement of the next door building. I guess that was because they were all conjoined and over time no one had the incentive / money to sort it out. There was also an intermediate stopcock at ground floor near the street front entrance door to our building – boxed in at hip level, easily opened. And then one for my flat behind the bath panel. So the message is to speak to neighbours and enquire widely – and communicate in advance so any interruption of supply is flagged clearly. You don’t want bad relations with neighbours!