Sample questions relating to Morecambe Lease Extensions

  • 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 valued. The flat is in Morecambe, and my lease will reach 54 years this November. Could you advise me about the costs and time-frame to obtain an appraisal? Also, do you represent your clients at the Tribunal court?
  • I bought a one bedroom apartment in Morecambe. The start date for the lease was in 1992 for 99 years. Now I am wanting to extend the lease. I am not entirely sure about additional expenses, could you tell me please how much I should expect to spend on this?
  • I am looking into the costs of carrying out a lease extension for my studio flat in Morecambe, and would like some figures on that.
  • I am looking to either purchase the freehold or a lease extension of my property in Morecambe and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I plan to simultaneously remortgage with Nationwide Building Society to release of equity. My broker handling the remortgage suggested I get two estimates : one to extend the lease and one for outright purchase .The lease began in 1981 and since then the ground rent has increased from £15.00 per year to £100 per year.
  • In 2012 I purchased a leasehold flat in Morecambe. I have built a large extension and have not informed the leaseholder. What are my options?
  • Offer accepted on a a maisonette in Morecambe, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer in writing through the post which states the lease as 85 years.We are soon to exchange contracts within a week. My query is how is possible that the estate agent got it so wrong?
  • I own 60% in a shared ownership property with a housing association and I am considering a lease extension on a lease which is now around 57 years. I need a at my end. Can you advise please? I live near Morecambe and have a mortgage with Lloyds TSB Bank.
  • I'm living with my parents but have a studio flat in Morecambe let out which has a sixety six 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 Morecambe 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?
  • Coming up to two years that I have been in my garden flat in Morecambe. I have fivety four years remaining on the lease. I am now looking either to buy a share of freehold or extend my lease. I purchased the property for 320K, 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: What can I expect in terms of surveyors charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process drags to the tribunal etc)?

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