Gurnard Lease Extensions

Questions and Answers: Gurnard Lease Extensions

I have shares in the freehold of 2 blocks of flats comprising of seven flats each. 2 of the leasehold owners want a lease extension and I'm enquiring about the procedure for this

I want to buy a leasehold property and lease extension. The owner has been there for three years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?

We have seen a house for sale for £185,000 and we are very interested but we've just discovered that it is leasehold. There are 928 years left so a lease extension is not required. 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 twenty years without the house being ours. Any advice would be much appreciated.

I'm looking for an apartment to purchase in Gurnard and I'm not really familiar with the leasehold title. I've found a maisonette I like with a 90 years lease. My research reveals that I can apply for a lease extension having owned the property for a couple of years, but:- Should I be looking at some conditions that would prevent me for getting a lease extension?

My OH and I are considering buying a three bed flat in Gurnard which is a leasehold. I am wanting to weigh up the pros and cons of that - what happens when lease ends, how much it costs to extend it, can the freeholder of the land evict me from my own flat and prevent me from extending the lease?

I am in need of a lease extension for my flat in Gurnard and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?

My wife and I would like to know the cost of a lease extension valuation for a property based in Gurnard. Would you be able to help?

My wife and I are are hoping to complete on a one bedroom apartment in Gurnard which has share of freehold and a leasehold. The lease was starting to get low so the owner commenced dealing with a lease extension. The owner has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the conveyancing process is for our to do OS1 search on the lease. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new property title number has not been issued. Is it correct that we must wait until the new lease is registered?

I know that others in the same block previously had a lease extension, and the freeholder was amenable. It therefore appears worth taking risk of not having formal survey and base the initial offer on previous premiums paid . This would save on double valuation fees. Would you suggest this course of action?

We have a garden flat in Gurnard with a lease of sixety 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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