Cathays Lease Extension - Your Legal Fees Calculator
Frequently asked questions relating to Cathays Lease Extensions
We have seen a house for sale for £215k and we are very keen on but we've just discovered that it is leasehold. There are 899 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 25 years without the house being ours. Any feedback would be much appreciated.
I inherited a garden flat located in Cathays with a leasehold unexpired of 69 years. I am enquiring about how much I will need to spend to extend my lease
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'm considering purchasing a ground floor flat (leasehold) but the freeholder has been missing for around 15yrs. My query is would it be cheaper to try to acquire the reversionary title or to get a lease extension and apply for RTM?
I'm looking for an apartment to buy in Cathays and I'm not really familiar with the leasehold arrangement. I've identified a ground floor flat I like with a 90 years lease. My research reveals that I can get a lease extension having owned the property for a couple of years, but:- Should I anticipate any issue with my proposed mortgage lender Britannia?
I am considering bidding for an auction property and identified a studio flat in Cathays. It has just 41 year lease..the vendor being mortgagees in possession will not want the aggravation of applying for a lease extension..what are the disadvantages of this other than the costly fee to put a new lease on it and decreased chance of obtaining a mortgage with Leeds Building Society?
We have a one bedroom flat based in Cathays. There is eighty years remaining on the lease and we want a lease extension. What will it likely cost to get a lease extension by, say,thirty years
I am looking to buy a one bed flat in Cathays for asking price of 156k, which has sixety five years lease left on it. Seller doesn't want to extend the lease for even if I were to pay the money to the seller. My question is: If landlord does not agree to a marriage value (part of lease extension fees) of a valuer, how lengthy and easy is the process of going down the route of Leasehold Valuation Tribunal?
Coming up to two years that I have been in my ground floor flat in Cathays. I have 70 yrs outstanding on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 350K, it is now roughly 450k. 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
Even though I may not need a lease extension but I do require a vesting order on a property I want to acquire in Cathays. The house is freehold but the garden is officially leasehold, 1000 year lease from 1895. Its the rear garden.