Recently asked questions relating to Blyth 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 outstanding so a lease extension is not a worry. 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 25 years without the house being ours. Any suggestions would be much appreciated.
  • I am looking for a in Blyth and they need to be on the Coventry Building Society approved conveyancers panel as we need a lease extension and refinance simultaneously. Are you able to recommend any please ?
  • I am going to purchase a flat located in Blyth. The offer is subject to the lease extension. The owner’s 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 Leeds Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • Last year I purchased a leasehold apartment in Blyth. I have built a big extension and have not informed the freeholder. What are my options?
  • I am about to view a one bedroom apartment, although not exactly my dream property it has enough positives to suit me very well for my present situation. However after obtaining a copy of the title I've learnt that it only has seventy seven years outstanding on the lease. It is also a repo so I'm guessing that the lender will not be interested in doing a lease extension. My main concern is would the short lease make it difficult to secure a mortgage?
  • My mortgage provider requires several hundred pounds for their to agree a lease extension for my flat in Blyth... I can find no mention of this in my mortgage literature... is this a normal fee to pay?
  • My wife and I have a first floor flat in Blyth with 67 years remaining. Ten months ago we were quoted a deal to grant a lease extension for a further 25 years but also increase ground rent from notional to a little more..plus a premium I think of approximately 9k. We have now decided to go ahead but do we now have to start the negotiations again?
  • My (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 the freeholder of a 1930’s property split into two apartments. I live in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 58 years. What are my next steps?
  • We are in the throws of buying a home (a garden flat located inBlyth with share of freehold). During our search, we were always looking at properties that had a minimum 84 years residual lease term. We came across a apartment we fell in love with and the estate agent assured that the lease was long albeit not specifying a number. This morning our told us the lease only has 70 years and therefore requires a lease extension. Should we run away, or should we negotiate our offer?

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