Clydach Lease Extensions

Frequently asked questions relating to Clydach Lease Extensions

My wife has an apartment based in Clydach which we have just put on the market. The leasehold has slightly less than seventy six years remaining on it and we are concerned this will come up for anyone who may be interested. I am interested in more information on how we commence arranging a lease extension? Thank you.

I'm wanting to make an offer on a house in Clydach but I'm a little worried about it being leasehold. Do you know what title absolute means and is this regarding the lease? Also, we have asked to see a copy of the lease but the homeowner said they might not have it. We are worried about restrictions, and dont know what to do. We have also been approved for the mortgage but the lender doesn't know its leasehold. Do houses qualify for lease extension? Will this affect Alliance & Leicester giving us the mortgage now?

I want to buy a leasehold property and extend the lease. The vendor has been there for four years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?

I am in need of a rough estimate of what a lease extension will cost for a flat I intend to purchase. It has 78 years balance left.

I bought a one bedroom apartment in Clydach with a leasehold unexpired of 75 years. I am wondering about what I will need to spend to extend my leasehold

I bought a studio flat in Clydach. I am looking to extend lease on the property. It is nearing eighty one years. I would just like to know what your charges are and how long it would take for completion.

Coming up to two years that I have been in my studio flat in Clydach. I have fivety seven years unexpired lease on the lease. I am now looking either to purchase a share of freehold or a lease extension. I acquired the property for 350K, it is now roughly 425k. 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 financing - do they add it to their existing mortgage or pay it out in cash?

If a leaseholder owns a flat with a lease of less than 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?

Hopefully an easy question for you, how much is the premium payable for a lease extension on a residential property in Clydach for a three bed flat - sec 42 having been issued?

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