Questions and Answers: Ainsdale Lease Extensions

  • I have just completed on a garden flat based inAinsdale and I'm considering extending the lease as soon as practicable e.g. in two years
  • I want to buy a leasehold property and extend the lease. The owner has been there over two years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • We have seen a house for sale for £195k and we are very keen on but we've just discovered that it is leasehold. There are 899 years residual lease term so a lease extension is not a worry. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for twenty years without owning the property. Any information would be much appreciated.
  • I have a lease of 57 years on a property which I am looking to buy how much am I looking at for the cost to extend the lease?
  • We have a leasehold flat in Ainsdale with 78 years to run. Last year we were quoted a deal to have a lease extension for another fifty years but also increase ground rent from nominal to a little more..plus a premium I think of approximately 14k. We have now decided to proceed but do we now have to renegotiate?
  • I am in need of a lease extension for my flat in Ainsdale and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • I do not need a lease extension but I do need a vesting order on a property I want to buy in Ainsdale. The house is freehold but the garden is officially leasehold, 1000 year lease from 1854. Its the garden area.
  • I am currently negotiating a lease extension for my flat in Ainsdale as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?
  • I'm looking for some advice with regard to a lease extension on my garden flat in Ainsdale. I'll be looking to do this sometime next year as we need to move at some point then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the tribunal route. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

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