Top Ten Questions relating to Great Yarmouth Lease Extensions

  • We are in a block made up three flats in Great Yarmouth and have been offered to buy the freehold for £6000 per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • I am concerned that my daughter is being hoodwinked. She put in an offer on a studio flat in Great Yarmouth, where the lease is around seventy one years but she was told by the estate agents that the current owner had extended it to 99 years. Only now has she been told the vendor was holding off for her to instruct lawyers before commencing with the lease extension. Sounds unscrupulous, also it could take a while to sort it all out. Am I being too sceptical?
  • We wish to extend our lease having owned the property for two years as of 13th May 2015. It has circa 58 years remaining currently. Hoping to get a lease extension by way of an additional 90 years as expeditiously and stress free as possible.
  • I'm living at parents but have a studio flat in Great Yarmouth let out which has a 69 year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Great Yarmouth for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 21k. Should I keep or sell the flat?
  • Coming up to two years that I have owned my maisonette in Great Yarmouth. I have sixety eight years left 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 445k. 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?
  • I note that your website states the anticipated fee for dealing with a lease extension is £495. Is that the all inclusive cost excluding value added tax and the land registry fee? The premium has already been negotiated with the freeholder for the lease extension for my ground floor flat in Great Yarmouth
  • I have a freehold of a one bedroom flat in Great Yarmouth. The leaseholders have 66 years on a lease and wants to purchase another 90 years. The have offered me 19k. Is this around the right price?
  • We are hoping to purchase a flat (a garden flat based inGreat Yarmouth with share of freehold). Throughout our search, we were always looking at flats that had a minimum ninety years left. We came across a apartment we fell in love with and the selling agent assured that the lease term was not an issue. Yesterday our advised us the lease only has seventy three years and thus requires a lease extension. Do we walk away, or should we reduce our offer?
  • I was hoping you might be able to tell me the process of how to apply for a lease extension for my garden flat in Great Yarmouth
  • I have a lease of fivety eight years remaining on my flat in Great Yarmouth. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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