Questions and Answers: Alnwick Lease Extensions

  • I am going to purchase a flat based in Alnwick. My offer is conditional upon a lease extension. The vendor’s has served the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Chelsea Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • We purchased a leasehold with a landlord who has failed to respond by way of a counter-notice for a lease extension for our flat in Alnwick and are therefore deliberating the option of a vesting order. Is this something you can help us with?
  • I am a FTB of a leasehold flat in Alnwick. The lease has just sixety four years balance left and ground rent is £75. Is it possible for the owner to serve the Initial Notice and then transfer this right to me as the purchaser on the day of completion so that I can avoid waiting for the 2 year requisite period before I can apply to for a lease extension or have to deal with all this expense later? I have read this may be possible but will it be very time consuming to the current owner? Unfortunately it’s the case of an absent landlord, so I am not sure how does it work.
  • Me and my sister have owned a leasehold flat for about twenty years. There are seventy eight years left on the lease. Following a year of difficult negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I am at a decision point on whether to accept it or go to LVT and would appreciate advice.
  • Although I do not need a lease extension but I do need a vesting order on a property I want to buy in Alnwick. The house is freehold but the garden is officially leasehold, 1000 year lease from 1889. Its the garden area.
  • I own the freehold of a 2 bedroom flat in Alnwick. The leaseholders have 73 years on a lease and wants to purchase another 90 years. The have offered me 19k. Is this around the right price?
  • My husband and I are purchasing a one bedroom apartment in Alnwick which has share of freehold and a leasehold. The lease was starting to get low so the seller is in the process of dealing with a lease extension. The seller’s lawyer has submitted the lease extension paperwork to HMLR. An essential part of the house buying process is for our to do OS1 search on the property title. The concern here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number is not known. Is it right that we must be patient until the lease extension has actually been registered before completing.?
  • My mum is concerned about obtaining a lease extension from a difficult freeholder. Regardless of the fact that the legal procedures were adhered to under the appropriate legislation, the freeholder still attempted to get ground rent of £300 doubling every 25 years of the new term. Can you help?
  • I am planning on refinancing my garden flat in Alnwick and the bank that I am looking to move to needs at least 85 years remaining on the lease in order for them to take the mortgage forward. We currently have around sixety one years on the leasehold so require some advice, guidance, and some quotes to get the wheels in motion for a lease extension
  • I am currently negotiating a lease extension for my flat in Alnwick 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?

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