Common questions relating to Edwinstowe Lease Extensions

  • Hello. I need someone to review my lease extension before it's completed just to make sure there's nothing that I haven't seen - it's just a reissue with a few small changes.
  • I plan on buying a flat based in Edwinstowe. My offer is conditional upon a lease extension. The homeowner’s has served the Section 42 Notice. 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 Bank of Ireland. Moreover, which are the following lease extension steps to complete the purchase?
  • The terms for the lease on my flat in Edwinstowe are 99 years from 10 Sep 1988. Can you supply me me a quote for a lease extension if I give you more information please?
  • I am considering acquiring an auction property and came upon a two bed flat in Edwinstowe. It has just 48 year lease..the seller being mortgagees in possession will not want to mess around with negotiating a lease extension..what are the drawbacks of this other than the expensive fee to put a new lease on it and reduced chance of getting a mortgage with The Mortgage Works?
  • We have a ground floor flat in Edwinstowe with sixety five years left. Ten months ago we were quoted a deal to grant a lease extension for a further 25 years but also uplift the ground rent from nominal to a little more..plus a premium I think of about 14k. Finally we have decided to go ahead but do we now have to start the negotiations again?
  • 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?
  • I am the freeholder of a Georgian property split into two apartments. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 74 years. What are my next steps?
  • We know that others in the same building had already had a lease extension, and the freeholder seemed reasonable. It therefore appears worth taking risk of not having formal survey and base the initial offer on on the premiums paid by others . This would save on double valuation charges. Would you recommend this course of action?
  • I am currently negotiating a lease extension for my flat in Edwinstowe 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?
  • We have a garden flat in Edwinstowe with a lease of fivety eight years left with a value of around £290000 we want to add 90 years to it, how much is that likely to cost?

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