Examples of recent questions relating to Lease Extensions in Colwyn Bay

  • My name´s Mason. I’m flat hunting in Colwyn Bay I'm considering offering on a three bed flat online, with around fivety seven years remaining, how much will it likely cost to extend in this location by, say, twenty years?
  • We have seen a house for sale for £185,000 and we are very keen on but we've just found out that it is leasehold. There are 798 years residual lease term 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 true? We wouldn't want to pay a mortgage for 25 years without the house being ours. Any information would be much appreciated.
  • I am looking to either purchase the freehold or a lease extension of my property in Colwyn Bay and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I plan to simultaneously get a new mortgage with Britannia to free up equity. My adviser dealing with the remortgage suggested I get two estimates : one to extend the lease and one for outright acquisition .The lease began in 1979 and since then the ground rent has been raised from £38.00 per annum to £125 per annum.
  • I am a FTB of a leasehold flat in Colwyn Bay. The lease has just sixety one years balance left and ground rent is £95. Is it possible for the owner to serve the Initial Notice and then assign this right to me as the purchaser once I complete the buying process so that I don't have to wait 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 may be possible but will it be very time costly to the current owner? To add to the complexity the landlord can not be found, so I am not sure how this will play out.
  • I have my suspicions that my niece might be having the wool pulled over her eyes. She put in an offer on a garden flat in Colwyn Bay, where the lease is just under 73 years but she was informed by the estate agents that the vendor had extended it to 99 years. Only now has she been told the flat owner was holding off for her to instruct conveyancers before commencing with the lease extension. Sounds unscrupulous, also it will take time to sort it all out. What do you think?
  • I am looking at acquiring an auction property and identified a studio flat in Colwyn Bay. It only has a fifty year lease..the current owner being mortgagees in possession dont want to mess around with seeking a lease extension..what are the disadvantages of this other than the costly fee to put a new lease on it and reduced chance of getting a mortgage with Alliance & Leicester ?
  • I own a share of the freehold. There are five flats in the building. All the leaseholders are now requiring lease extensions. What's your legal fee?
  • I am the owner of a purpose-built flat in a small block in Colwyn Bay. The leasehold interest in the flat on a 101 year lease which commenced on 21st August 1970 with a set yearly rent of 35. I wish to obtain a lease extension. Can I call someone to go through my options please?
  • We would like to know the cost of a lease extension valuation for a property based in Colwyn Bay. Would you be able to help?
  • My daughter knows that others in the same building previously had a lease extension, and the landlord was amenable. It therefore appears worth taking risk of not having formal survey and calculate the initial offer on previous prices . This would save on double valuation fees. Would you suggest such a course of action?

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