UK Property Law
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Thanks for your question.
If you are the sole freeholder then it will be relatively easy to extend your lease. You will need a solicitor to do this for you as the lender will insist on a licensed conveyancer acting for them to ensure their charge is perfected post extension.
It will either be by way of a new lease or a deed of variation. It should not be that expensive £300-400 + vat approx. The lender will probably require that there standard form Deed of Substituted security is executed and your solicitor will have to get in touch with them. This should be avialable within a month but you really need to see a solicitor at the beginning of the week.
Once the extension is registered you will be free to remortgage.
The freehold title will be registered at the Land Registry and the conveyancing will be able to download a copy for the sum of £8.00.
There need not be any money changing hands for the extension.
You will simply have to take a copy of your lease the solicitor an details of your property. If this is useful please kindly click accept so that I may be rewarded for my time. You will be free to ask follow up qusetions. Kind regards,
Thanks for your reply.
A copy of your lease and the registered titles for both the freehold and leasehole interest will be held at the Land Registry. This is how one proves legal title in properties these days and they are in effect your deeds. A solicitor will easily be able to to get hold of a copy, it's extremely straightforward.
If in fact the property was not registered at the time of purchase (unlikelyt) then the lease will probably be with your lender rather than your old solicitor.
Lenders lend on interests of land, not the identity of person. The will not lend on the freehold of the property whilst it is subject to leases as here. They will lend on the leasehold interests which is what they will do in your case.
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