FAQs concerning Menai Bridge Lease Extensions

  • My wife has an apartment in Menai Bridge which we have just put on the market. The leasehold has around seventy five years left on it and we are concerned this will come up for anyone who may be interested. Can you please assist on how we get started on a lease extension? Thank you.
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Menai Bridge and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a remortgage with Norwich and Peterborough Building Society to release of equity. My adviser handling the remortgage suggested I get two estimates : one for the lease extension and one for outright acquisition .The lease started in 1991 and since then the ground rent has increased from £15.00 per year to £200 per annum.
  • I am interested in getting my lease extended and was advised previously that I must get the funds readily available, is this the case or can I start the process beforehand?
  • 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?
  • Just been over 2 years that I have been in my three bedroom ground floor purpose built flat in Menai Bridge. I have sixety seven years unexpired lease on the lease. I am now wanting to buy a share of freehold or a lease extension. I purchased the property for 350K, it is now roughly 450k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: In terms of surveyors - how do I go about finding one?
  • Although I do not need a lease extension but I do require a vesting order on a property I want to acquire in Menai Bridge. The house is freehold but the garden is officially leasehold, Nine hundred and ninety nine year lease from 1895. Its the rear garden.
  • We know that others in the same building previously had a lease extension, and the landlord seemed amenable. It therefore appears worth taking risk of avoiding a formal survey and calculate the initial offer on previous prices . This would save on double valuation charges. Would you recommend this course of action?
  • I am planning on refinancing my studio flat in Menai Bridge and the bank that I am looking to move to needs at least 85 years remaining on the lease in order for them to progress matters. We currently have around 68 years on the leasehold so require some help, guidance, and some quotes to start the lease extension process
  • I am currently negotiating a lease extension for my flat in Menai Bridge 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?
  • Do you handle lease extensions on land? (a plot of land in Menai Bridge with 82yrs remaining)

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