Benllech Lease Extension - Your Legal Fees Calculator
Benllech Lease Extensions: Q and A’s
I have shares in the freehold of 2 blocks of flats comprising of six flats each. Two of the leasehold owners want a lease extension and I'm enquiring about the procedure for this
I want to acquire a leasehold property and extend the lease. The seller has been there for three 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 interested but we've just found out that it is leasehold. There are 928 years unexpired so a lease extension is not required. 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 twenty years without owning the property. Any help would be much appreciated.
I have my suspicions that my daughter might be having the wool pulled over her eyes. She submitted an offer on a two bedroom ground floor purpose built flat in Benllech, where the lease is slightly more fivety six years but she was advised by the selling agents that the current owner had extended it to 99 years. She has now been told the owner was waiting for her to appoint solicitors ahead of instigating the lease extension. Sounds underhand, also it may take a while to sort it all out. Am I reading too much into it?
I am considering purchasing an auction property and came upon a one bed flat in Benllech. It has just 41 year lease..the current owner being mortgagees in possession dont want to mess around with negotiating a lease extension..what are the disadvantages of this other than the huge fee to extend the lease and decreased chance of getting a mortgage with Halifax?
I am looking to buy a one bed flat in Benllech for asking price of 125k, which has seventy four years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My query is: If the freeholder does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
My solicitors (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 am in need of some help with a lease extension. I live in Belfast but the property in question is based in Benllech. I would be grateful if you can give me a call when you get a chance to discuss the case.
Coming up to two years that I have been in my garden flat in Benllech. I have fivety four yrs unexpired lease on the lease. I am now looking either to purchase a share of freehold or extend my lease. I purchased the property for 320K, it is now roughly 425k. I understand that 90 years is the period most people extend. I spoke to my solicitors about the process, he answered most of my questions but just have one left: Is there a benefit in getting a Benllech based conveyancing practitioners or any will do fine?
I am currently negotiating a lease extension for my flat in Benllech 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?