Top Ten Questions relating to Isle of Sheppey Lease Extensions

  • We have just bought a garden flat inIsle of Sheppey and I'm deliberating extending the lease as soon as I can e.g. after 24 months of ownership
  • I am the registered owner of a studio flat in Isle of Sheppey that I am finding difficult to sell as a result of the lease requiring a lease extension. How long will it take ?
  • 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?
  • Think I may have made a mistake, I am seeking a in Isle of Sheppey who has Leasehold Tribunal expertise when it comes to lease extensions. Is this something you can assist me with?
  • I am looking into the costs of carrying out a lease extension for my maisonette in Isle of Sheppey, and would like some figures on that.
  • We have a leasehold flat in Isle of Sheppey with 55 years remaining. Ten months ago we were quoted a deal to receive a lease extension for another 25 years but also increase ground rent from notional to a little more..plus a premium I think of approximately 16k. We have now decided to go ahead but do we now have to renegotiate?
  • My husband and I had entered into a purchase of a studio flat in Isle of Sheppey. I was assured that the lease had been extended (seventy four years outstanding prior to extension). The sales particulars stated "sold with a long lease". It transpires as we are about to exchange of contracts we find that the lease has not been extended. The seller apparently has a quote but no funds to extend and consequently the homeowner intends to exchange and use the deposit monies for the lease extension. My question is as the lease hasn't been extended is there not a danger that Skipton Building Society won't lend on a lease?
  • Me and my partner are in the throws of buying a home (a 2 bed flat located inIsle of Sheppey with share of freehold). During our search, we were always looking at apartments that had at least 84 years left. We identified a flat we fell in love with and the selling agent promised us that the lease was long albeit not specifying a number. Today our informed us the lease only has 60 years and therefore needs a lease extension. Do we walk away, or should we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?
  • I know that others in the same building previously had a lease extension, and the freeholder seemed reasonable. Therefore is seems worth taking risk of avoiding a formal valuation and calculate the initial offer on on the premiums paid by others . This would save on double valuation charges. Would you recommend such a course of action?
  • We currently own a one bedroom apartment in Isle of Sheppey and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has fivety four years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer some advice on this? Do I contact the freeholder first and will they be able to give me a cost?

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