FAQs concerning Kirkwhelpington Lease Extensions

  • I am seeking a lease extension for our apartment in Kirkwhelpington and we are confused by the letter that we received from our freehold company. Can you please help us with this situation?
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Kirkwhelpington and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I plan to simultaneously refinance with Norwich and Peterborough Building Society to release of equity. My adviser handling the remortgage suggested I get two quotes : one to extend the lease and one for outright acquisition .The lease commenced in 1981 and since then the ground rent has increased from £25.00 per year to £200 per annum.
  • I am a first time buyer of a leasehold flat in Kirkwhelpington. The lease has just seventy two years outstanding and ground rent is £95. Is it possible for the vendor to serve the Notice of Claim and then assign over the right to me as the buyer on the day of completion so that I don't have to wait for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is legal but will it be very time costly to the vendor? Unfortunately it’s the case of an absent freeholder, so I am not sure how this will play out.
  • I am thinking about buying an auction property and found a studio flat in Kirkwhelpington. It only has a fifty year lease..the seller being mortgagees in possession will not want the aggravation of seeking 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 obtaining a mortgage with Alliance & Leicester ?
  • I would like some guidance on purchasing a leasehold residence. We are going to buy a link detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Kirkwhelpington area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to rent out the property?
  • My husband has a share of freehold, with two other leaseholders in a building in Kirkwhelpington. House split into three apartments. He has a lease, which has just over 63 yrs left. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?
  • I'm intent on purchasing a flat in Kirkwhelpington valued at £195,000 the flat has approaching 62 years unexpired on the lease. I put in an offer conditional upon the lease being renewed... .. that was back in September, expecting I'd have completed by now. They have just informed the agent they'll knock £4k off if I deal with the lease extension myself. I'm unsure whether that's a good idea
  • I'm looking for some advice concerning extending the lease on my flat. I'll be looking to do this in six months time as we need to move 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 LVT route. You are able to recommend a good with expertise in lease extensions. Preferably nearby in Kirkwhelpington?
  • I have 57 years remaining on my lease of a ground floor flat in Kirkwhelpington, the Landlord requires a £15k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is acceptable
  • I am currently negotiating a lease extension for my flat in Kirkwhelpington 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?

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