Choppington Lease Extensions

Choppington Lease Extensions: Q and A’s

I need to extend my existing lease can you assist? I think it has sixety years outstanding

We have seen a house for sale for £195k 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 twenty years without the house being ours. Any suggestions would be much appreciated.

I am looking for a in Choppington and they need to be on the Accord Mortgages Ltd approved conveyancers panel as we need a lease extension and refinance at the same time. Can you recommend any please ?

My neighbours and I are in a block comprising three flats in Choppington and have been offered to buy the freehold for £5000 per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?

I'm looking for an apartment to purchase in Choppington and I'm not really familiar with the leasehold tenure. I've found a three bedroom ground floor purpose built maisonette I like with a 91 years lease. I've read that I can go for a lease extension after a couple of years, but:- Is this a given?

I am a first time buyer of a leasehold flat in Choppington. The lease has only 66 years outstanding and ground rent is £50. Is it possible for the flat owner to serve the Section 42 Notice and then assign over the right to me as the buyer on the day of completion so that I can avoid waiting for the 2 year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is legal but will it be very time costly to the vendor? To add to the complexity the freeholder can not be found, so I am not sure how this will play out.

Just been over two years that I have been in my two bedroom first floor purpose built flat in Choppington. I have sixety two years outstanding on the lease. I am now looking either to purchase a share of freehold or a lease extension. I purchased the property for 350K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my 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?

I'm looking at buying an apartment in Choppington valued at £210,000 the flat has just under sixety one years unexpired on the lease. My offer was subject to the lease being renewed... .. that was back in November, expecting I'd be in before now. The seller has just come back saying they'll reduce the price by£2k if I deal with the lease extension myself. I'm not sure if I should take them up on the offer

Are you able to provide an estimate to extend my aunt’s lease on a three bed flat in Choppington. She already has a price from the freeholder for a lease extension but I am far from certain if it is too expensive.

I am currently negotiating a lease extension for my flat in Choppington 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 Choppington