Questions and Answers: Dingle Lease Extensions

  • My name´s Jackson. I’m property hunting in Dingle I'm seeing a ground floor flat online, with roughly sixety four years unexpired lease, how much does it cost on average to extend in this area by, say, twenty years?
  • I am looking to extend the lease on my two bedroom first floor purpose built maisonette in Dingle which will have sixety five years remaining in November. What fees are applicable?
  • 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 going to purchase a flat based in Dingle. My offer is conditional upon a lease extension. The flat owner’s has given to the freeholder the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Nationwide Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Dingle and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously get a new mortgage with Bank of Scotland to free up equity. My adviser dealing with the remortgage suggested I get two estimates : one to extend the lease and one for the freehold acquisition .The lease started in 1979 and since then the ground rent has been raised from £38.00 per annum to £200 per year.
  • I am thinking about buying an auction property and identified a one bed flat in Dingle. It only has a 50 year lease..the current owner being mortgagees in possession dont want the aggravation of negotiating a lease extension..what are the drawbacks of this except for the costly fee to put a new lease on it and reduced chance of obtaining a mortgage with Barnsley Building Society?
  • Me and my OH are considering buying a studio flat in Dingle which is a leasehold. I am wanting to weigh up the pros and cons of that - what happens when lease expires, how much it costs to extend it, can the freeholder of the property evict me from my own flat and block me from having a lease extension?
  • I am interested in getting my lease extended and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
  • Hopefully an easy question for you, how much is the premium payable for a lease extension on a residential property in Dingle for a three bed flat - section 42 having been issued?
  • I am currently negotiating a lease extension for my flat in Dingle 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?

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