Frequently asked questions relating to Colsterworth 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 looking into the costs of carrying out a lease extension for my three bedroom first floor purpose built maisonette in Colsterworth, and would like some figures on that.
  • I am looking to either purchase the freehold or a lease extension of my property in Colsterworth and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously get a new mortgage with Halifax to free up equity. My adviser dealing with the remortgage suggested I get two estimates : one for the lease extension and one for outright acquisition .The lease began in 1972 and since then the ground rent has increased from £25.00 per annum to £100 per year.
  • In 2012 I purchased a leasehold apartment in Colsterworth. I have built a huge extension and have not informed my freeholder. What are my options?
  • I am a FTB of a leasehold flat in Colsterworth. The lease has just 74 years outstanding and ground rent is £75. Is it possible for the flat owner to serve the Initial Notice and then assign over the right to me as the buyer once I complete the buying process so that I can avoid waiting for the two 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 current owner? Unfortunately the landlord can not be found, so I am not sure how does it work.
  • My flat in Colsterworth is up for sale and I have a hopefully firm offer. There is 82 years left on the lease and I want to extend the lease. How much will it likely cost to get a lease extension by, say,25 years
  • We are considering purchasing a garden flat in Colsterworth which is a leasehold. I am enquiring as to the advantages and disadvantages of that - what happens when lease expires, the cost of a lease extension, can the freeholder of the land evict me from my own flat and prevent me from extending the lease?
  • My fiance and I would like to know the cost of a lease extension valuation for a property based in Colsterworth. Is this something you can assist us with?
  • My and my partner are worried about seeking a lease extension from a difficult freeholder. Even though the legal procedures were adhered to under the 1993 Act, the landlord still attempted to charge ground rent of £200 increasing by 100% every 25 years of the new lease. Can you assist?
  • I am currently negotiating a lease extension for my flat in Colsterworth 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 Colsterworth