Castle Eden Lease Extensions Example Support Desk Enquiries

  • We have seen a house for sale for £195k and we are very interested but we've just discovered 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 25 years without owning the property. Any feedback would be much appreciated.
  • I am looking for a in Castle Eden and they should be on the Platform Home Loans Ltd approved conveyancers panel as we need a lease extension and refinance simultaneously. Are you able to recommend a ?
  • I am going to purchase a flat located in Castle Eden. My offer is subject to the lease extension. The vendor’s has served the Notice of Claim. 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 National Westminster Bank. Moreover, which are the following lease extension steps to complete the purchase?
  • I'm deliberating over purchasing a three bed flat (leasehold) but the landlord has been absent for nearly 15yrs. I wonder whether it will be less expensive to try to acquire the reversionary title or to extend lease and apply for RTM?
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Castle Eden and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously refinance with Godiva Mortgages Ltd to free up equity. My broker handling the remortgage suggested I get two quotes : one to extend the lease and one for the freehold purchase .The lease began in 1991 and since then the ground rent has been raised from £38.00 per annum to £200 per year.
  • I'm looking for a flat to purchase in Castle Eden and I'm not really familiar with the leasehold arrangement. I've found a three bedroom ground floor purpose built maisonette I like with a 90 years lease. My research reveals that I can go for a lease extension after 2 years, but:- Is this a given?
  • I have my suspicions that my niece might be having the wool pulled over her eyes. She submitted an offer on a 2 bed flat in Castle Eden, where the lease is approximately 55 years but she was advised by the estate agents that the current owner had extended it to 125 years. She has now been informed the seller was waiting for her to appoint solicitors ahead of instigating the lease extension. Seems devious, also it will take time to sort it all out. Am I being too sceptical?
  • Regarding a residence in Castle Eden. lower maisonette. sixety two yrs remaining. I have an agreed lease extension to £14k for 135yrs. Freeholder also requested Notice of Claim which I think is a tad over the top. Can you assist.
  • I am currently in the process of remortgaging my ground floor flat in Castle Eden and the bank that I am looking to switch to needs at least 80 years remaining on the lease in order for them to take the mortgage forward. We currently have around seventy two years on the leasehold so looking for some help, guidance, and some quotes to set the wheels in motion for a lease extension
  • I am currently negotiating a lease extension for my flat in Castle Eden 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?

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