Llanrwst Lease Extensions: Q and A’s

  • I’m about to offer on a one bed apartment to purchase in the Llanrwst area and was after more information on what the likely fees would be to extend a lease? It has sixety five years outstanding...
  • I am considering investing in a second home but it has a lease that expires in twenty years. Its in Llanrwst - I wanted to see if with your services it is possible for this to be extended?
  • I am a FTB of a leasehold flat in Llanrwst. The lease has only 63 years balance left and ground rent is £50. Is it possible for the current owner to serve the Section 42 Notice and then transfer this right to me as the buyer on the day of completion so that I don't have to wait for the 2 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 achievable but will it be very time costly to the owner? To add to the complexity it’s the case of an absent freeholder, so I am not sure how this will play out.
  • I am a landlord of a block of flats in Llanrwst, and the tenants are in the process of being issued lease extensions. I should hopefully get the money next month. How does the tax work, the property is co-owned with my wife ?
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • Me and my wife have owned a leasehold flat for about fifteen years. It now has seventy eight years remaining on the lease. After a year of protracted negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I am at a decision point on whether to accept it or go to a Tribunal and would welcome some independent thoughts.
  • Me and my fiance are are hoping to complete on a three bedroom ground floor purpose built maisonette in Llanrwst which has share of freehold and a leasehold. The lease was starting to get low so the vendor commenced dealing with a lease extension. The seller’s lawyer has submitted the lease extension paperwork to HMLR. An essential part of the house buying process is for our to do OS1 search on the lease. The concern 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 lease title number has not been issued. Is it right that we must hold on pending registration of the new lease?
  • My wife and I are aware that others in the same block had already had a lease extension, and the freeholder seemed amenable. Therefore is seems worth taking risk of not having formal valuation and calculate the initial offer on on the premiums paid by others . This would save on double valuation charges. Is this advisable?
  • I am currently negotiating a lease extension for my flat in Llanrwst 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?
  • I was hoping you might be able to tell me the process of how to apply for a lease extension for my two bedroom first floor purpose built maisonette in Llanrwst

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