Examples of recent questions relating to Lease Extensions in Hetton Le Hole

  • I need to talk to you about a flat in Hetton Le Hole, I am considering buying at auction next month. The flat only has a few years left and I am curious about how much it would cost to get a lease extension and for your services.
  • I am looking to either purchase the freehold or a lease extension of my property in Hetton Le Hole and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a get a new mortgage with Birmingham Midshires to free up equity. The adviser dealing with the remortgage suggested I get two estimates : one for the lease extension and one for outright purchase .The lease began in 1991 and since then the ground rent has increased from £38.00 per year to £100 per year.
  • My fiance and I are considering purchasing a one bedroom ground floor purpose built flat in Hetton Le Hole which is a leasehold. I am wondering what are the pros and cons of that - what occurs when lease expires, 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 the freeholder of a Edwardian property split into two apartments. I reside in the upper flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current sixety three years. What are my next steps?
  • Coming up to two years that I have been in my ground floor flat in Hetton Le Hole. I have 59 yrs outstanding on the lease. I am now looking either to purchase a share of freehold or a lease extension. I acquired the property for 320K, it is now roughly 425k. 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 funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
  • If a leaseholder owns a flat with a lease of under 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not extending the lease?
  • I'm intent on buying a flat in Hetton Le Hole at a price of £256,000 the flat has something like 77 years unexpired on the lease. My offer was subject to a lease extension... .. that was back in November, hoping I'd have completed before now. They have just informed the agent they are willing to reduce the price by£8k if I deal with the lease extension myself. I'm not sure if I should take them up on the offer
  • I am currently negotiating a lease extension for my flat in Hetton Le Hole 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 one bedroom ground floor purpose built maisonette in Hetton Le Hole with a lease of seventy one years left with a value of around £290000 we want to add 90 years to it, how much is that likely to cost?
  • I'm looking for some advice with regard to a lease extension on my studio flat in Hetton Le Hole. I'll be looking to do this sometime next year as we need to move at some point then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the tribunal route. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

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