Frequently asked questions relating to Little Haven Lease Extensions

  • I’m about to offer on a a property to purchase in the Little Haven area and was enquiring how much would it cost for a lease extension? It has seventy two years outstanding...
  • I want to purchase a leasehold property and lease extension. The homeowner has been there over 2 years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • 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?
  • My mortgage provider is requesting several hundred pounds for their to agree a lease extension for my flat in Little Haven... I can find no reference of this in my mortgage guide... is this a standard fee to pay?
  • We have a leasehold flat in Little Haven with 70 years left. Ten months ago we were quoted a deal to have a lease extension for a further fifty years but also increase ground rent from notional to £250 per year..plus a premium I think of approximately 16k. Finally we have decided to proceed but do we now have to renegotiate?
  • We have a one bedroom flat in Little Haven. There is eighty years remaining on the lease and we want a lease extension. How much will it likely cost to get a lease extension by, say,45 years
  • I an interested in finding out more about leasehold property buying. We intend to buy a 1920s detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Little Haven area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to sublet the property?
  • I'm living at mother and father but have a three bedroom first floor purpose built flat in Little Haven let out which has a 62 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 Little Haven 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 13k. Not sure sure whether to hold on or sell the flat?
  • If somebody 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 doing it?
  • I own the freehold reversion of a property in Little Haven and a leaseholder would like a lease extension. Her valuer has given a figure of £8,000, but has increased this by £2,000 at the drop of a hat. My surveyor has come back with £12,520. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what costs would I be likely to face?

    • Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Little Haven