1 Bed Apartment For Sale

A larger than average first floor apartment with a roof terrace situated on the high street in Baldock. Within strolling distance of the train station, and a journey time to London of approximately 39 minutes. You are also within walking distance of a huge range of pubs, restaurants, and coffee shops . The price of £145,000 reflects that the property needs modernisation and that the lease has 73 years remaining. You may wish to extend the lease, and this would increase the value to £185,000 reflecting the current market. To extend a lease in the UK, a leaseholder must formally serve a Section 42 notice on the landlord, typically their freeholder, this legally mandated process grants a 90-year extension and a zero-ground rent. Further advice can be gained from and this suggests the approximate cost to extend the lease would be approximately £17,000 plus legal costs. The online calculator will give you a general guide to costs for renewing a lease. Generally, you would need to have owned the flat for two years to extend a lease, however the owner of the flat is prepared to assign the benefit of having owned the flat for many years so the process of extending the lease would not be delayed. The ground rent is currently £100 a year and the service charge is £1400 per year.