Frequently asked questions relating to Llantwit Major Lease Extensions

  • I am interested in getting a lease extension for a flat in Llantwit Major and want to use a local . Are you able to help me find a ?
  • 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?
  • I would like to have my residential flat leasehold extension premium assessed. The flat is in Llantwit Major, and my lease will reach 77 years this July. Could you advise me about the costs and time-frame to obtain an appraisal? Also, do you represent your clients at the LVT court?
  • I plan on buying a flat based in Llantwit Major. My offer is conditional upon a lease extension. The current owner’s has served the Section 42 Notice. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender The Mortgage Works. Moreover, which are the following lease extension steps to complete the purchase?
  • I am looking into the costs of carrying out a lease extension for my ground floor flat in Llantwit Major, and would like some figures on that.
  • I am looking to either purchase the freehold or a lease extension of my property in Llantwit Major and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with Santander to release of equity. The broker handling the remortgage suggested I get two quotes : one for the lease extension and one for outright acquisition .The lease started in 1991 and since then the ground rent has increased from £25.00 per year to £125 per year.
  • My mortgage provider is requesting several hundred pounds for their for a "deed of substituted security" for the lease extension for my flat in Llantwit Major... I am unable to find any reference of this in my mortgage guide... is this a normal cost that they charge?
  • We have a leasehold flat in Llantwit Major with 70 years unexpired. Ten months ago we were quoted a deal to have a lease extension for another fifty years but also increase ground rent from nominal to a little more..plus a premium I think of about 9k. Finally we have decided to proceed but do we now have to renegotiate?
  • My mother is worried about seeking a lease extension from tricky landlord. Regardless of the fact that the correct procedures were adhered to under the appropriate legislation, the landlord still attempted to charge ground rent of £250 increasing by 100% every 25 years of the new term. Can you help?
  • My wife and I are aware that others in the same block had already had a lease extension, and the freeholder was reasonable. Therefore is seems worth taking risk of not having formal valuation and base the initial offer on previous premiums paid . This would save on double valuation fees. Is this advisable?

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