Questions and Answers: Borth Y Gest Lease Extensions

  • 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 am the owner of a maisonnette and the freehold. My upstairs neighbours have asked to extend the lease what do I need to do?
  • We invested in buying a leasehold with a freeholder who has not given us a counter-notice for a lease extension for our flat in Borth Y Gest and are therefore deliberating the option of a vesting order. Is this something you can help us with?
  • Is it possible to talk with you about a flat in Borth Y Gest, I am considering bidding at auction next month. The flat only has a few years remaining and I was wondering about how much it would cost to get a lease extension and for your services.
  • I am looking to either purchase the freehold or a lease extension of my property in Borth Y Gest and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a get a new mortgage with Skipton Building Society to free up equity. My adviser dealing with the remortgage suggested I get two quotes : one for the lease extension and one for the freehold acquisition .The lease began in 1981 and since then the ground rent has increased from £38.00 per year to £200 per year.
  • I'm looking for a flat to purchase in Borth Y Gest and I'm not really familiar with the leasehold concept. I've identified a one bedroom ground floor purpose built maisonette I like with a 90 years lease. I've read that I can get a lease extension after a couple of years, but:- Should I be looking for some caveats that would prevent me for getting a lease extension?
  • We have a GFF located in Borth Y Gest. There is eighty years left on the lease and we want a lease extension. What does it cost on average to extend in this location by, say,45 years
  • We have owned a leasehold flat for about eighteen years. It now has sixety five years outstanding on the lease. After a year of difficult negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I now have to make a decision as to whether to accept it or go to LVT and would welcome some independent thoughts.
  • I am looking to extend the lease on my ground floor flat in Borth Y Gest I am looking for help to verify the premium. I have a price from the freeholder. I would like to go forward as soon as possible, but for the right premium and fee.
  • If somebody owns a flat with a lease of under 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not extending the lease?

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