Frequently asked questions relating to Bishops Lydeard Lease Extensions

  • We have seen a house for sale for £185,000 and we are very interested but we've just found out that it is leasehold. There are 798 years 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 correct? We wouldn't want to pay a mortgage for twenty years without owning the property. Any help would be much appreciated.
  • I am about to put an offer in on a studio flat in Bishops Lydeard with a lease of sixety nine years but not sure how much it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • I have been in touch with my freeholder to extend my lease for my flat in Bishops Lydeard. Her has been in contact regarding charges etc. I need a ball park figure for dealing with the legalities to secure a lease extension. The apartment currently has a 99 YR lease which started June 199.
  • I'm looking for an apartment to purchase in Bishops Lydeard and I'm not really familiar with the leasehold concept. I've identified a maisonette I like with a 91 years lease. I've read that I can apply for a lease extension after 2 years, but:- Is this a given?
  • My mortgage provider is requesting several hundred pounds for their to agree a lease extension for my flat in Bishops Lydeard... I can find no mention of this in my mortgage contract... is this a standard cost that they charge?
  • My wife and I are acquiring a ground floor flat in Bishops Lydeard which has share of freehold and a leasehold. The lease was starting to get low so the owner commenced dealing with a lease extension. 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 to do a "priority search" on the property title. The problem 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 correct that we must be patient pending registration of the new lease?
  • Just a quick one, how much is the premium payable for a lease extension on a residential property in Bishops Lydeard for a one bed flat - section 42 is already served?
  • We have a maisonette in Bishops Lydeard with a lease of sixety one years left with a value of around £410000 we want to add 125 years to it, how much is that likely to cost?
  • I have a lease of sixety three years remaining on my flat in Bishops Lydeard. 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?

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