Questions and Answers: Barlborough Lease Extensions

  • I own a leasehold flat in the Barlborough area and was enquiring whether I could get a lease extension. What are your processes and fees. There are 67 years outstanding
  • Hello. I need a to review my lease extension ahead of it being completed just to make sure there's nothing that I haven't seen - it's just a reissue with a few minor variations.
  • I need to talk to you about a leasehold property in Barlborough, I am considering bidding at auction next month. The flat only has a few years outstanding and I was wondering about how much it would cost to get a lease extension and for your services.
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Barlborough and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously refinance with Clydesdale to release of equity. My broker dealing with the remortgage suggested I get two estimates : one for the lease extension and one for outright purchase .The lease started in 1981 and since then the ground rent has been raised from £15.00 per year to £125 per annum.
  • In 2012 I purchased a leasehold flat in Barlborough. I have built a large extension and have not informed my leaseholder. What are my options?
  • I am about to view a two bedroom maisonette, although not exactly my dream property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has 74 years balance left on the lease. It is also a repo so I'm guessing that the bank will not be interested in extending the lease. My main concern is would it be difficult to sell on without a lease extension?
  • My OH and I had entered into a purchase of a 2 bed flat in Barlborough. I was advised by the EA that the lease extension had already been completed while on a viewing (58 years outstanding prior to extension). The description on the listing stated "sold with a long lease". It transpires at the point of exchange of contracts we find that the lease has not been extended. The homeowner apparently has a quote but no funds to extend and consequently the vendor wants to exchange and use the deposit monies for the lease extension. My question is as the lease hasn't been extended is there not a danger that Leeds Building Society won't lend on a lease?
  • I am looking to extend the lease on my 2 bed flat in Barlborough I am looking for a local company to calculate the premium. I have a premium value that the freeholder has given me. I would like to go forward as soon as possible, but for the right premium and fee.
  • I'm living with my parents but have a maisonette in Barlborough let out which has a fivety four year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Barlborough for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 19k. Should I keep or sell the flat?
  • I am currently negotiating a lease extension for my flat in Barlborough 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?

    • Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Barlborough