Barry Island Lease Extension - Your Legal Fees Calculator
Frequently asked questions relating to Barry Island Lease Extensions
I am considering investing in a holiday home but it has a lease that expires in fifteen years. Its in Barry Island - I wanted to see if with your services this could be extended?
We have seen a house for sale for £215k and we are very interested but we've just found out that it is leasehold. There are 798 years balance left so a lease extension is not a concern. 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 true? We wouldn't want to pay a mortgage for 25 years without owning the property. Any advice would be much appreciated.
I acquired a two bedroom ground floor purpose built maisonette in Barry Island. The start date for the lease was in 1992 for 99 years. Now I am looking to extend the lease. I am uncertain about further expenses, could you tell me please how much I should expect to spend on this?
I am going to purchase a flat in Barry Island. The offer is subject to the lease extension. The current owner’s solicitors has served the Section 42 Notice. 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 Bank of Scotland. Moreover, which are the following lease extension steps to complete the purchase?
I have my suspicions that my niece is being hoodwinked. She submitted an offer on a ground floor flat in Barry Island, where the lease is nearon seventy nine years but she was informed by the estate agents that the seller had extended it to 125 years. She has now been told the current owner was waiting for her to instruct solicitors ahead of instigating the lease extension. Sounds unscrupulous, also it will take time to sort it all out. What do you think?
I am considering bidding for an auction property and came upon a one bed flat in Barry Island. It only has a 41 year lease..the current owner as mortgagees in possession will not want the aggravation of negotiating a lease extension..what are the drawbacks of this other than the expensive fee to extend the lease and decreased chance of getting a mortgage with Alliance & Leicester ?
We have a one bedroom flat in Barry Island. There is eighty years left on the lease and we want a lease extension. How much does it cost on average to extend in this area by, say,25 years
Just been over two years that I have been in my one bedroom apartment in Barry Island. I have 77 yrs remaining on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 320K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my conveyancers about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
We are buying a garden flat in Barry Island which has share of freehold and a leasehold. The lease was on the short side so the seller commenced extending the lease. The owner has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the conveyancing process is for our lawyers to do a pre-completion search on the property title. The concern here is that as a lease extension has been submitted we've been told by our lawyers it may not be possible to do this "priority search" right now as the new lease title number is not known. Is it right that we have to hold on pending registration of the new lease?
I have a lease of seventy eight years remaining on my flat in Barry Island. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?