Nantyglo Lease Extensions

Nantyglo Lease Extensions: Q and A’s

I am looking for a lease extension on the lease on my ground floor flat in Nantyglo which will have 77 years left in November. What fees apply?

I am a FTB of a leasehold flat in Nantyglo. The lease has just sixety one years unexpired and ground rent is £75. Is it possible for the flat owner to serve the Initial Notice and then transfer over the right to me as the buyer once I complete the buying process so that I can avoid waiting for the two 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 does it work.

My mortgage provider is requesting a £450 fee for their for a "deed of substituted security" for the lease extension for my flat in Nantyglo... I can find no mention of this in my mortgage contract... is this a usual cost that they charge?

We have a ground floor flat in Nantyglo with 55 years to run. Ten months ago we were quoted a deal to receive a lease extension for a further thirty years but also increase ground rent from notional to £300 per year..plus a premium I think of about 9k. We have now decided to move forward but do we now have to renegotiate?

We have owned a leasehold flat for around twenty years. It now has 62 years outstanding on the lease. Following a year of difficult negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I now have to make a decision as to whether to accept it or go to LVT and would welcome advice.

I am the freeholder of a Georgian property split into two flats. I live in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 57 years. What are my next steps?

I'm living with my mother and father but have a garden flat in Nantyglo let out which has a 67 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 Nantyglo 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?

I do not need a lease extension but I do require a vesting order on a property I want to purchase in Nantyglo. The house is freehold but the garden is officially leasehold, 995 year lease from 1895. Its the rear garden.

If a leaseholder 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 extending the lease?

We currently own a three bed flat in Nantyglo and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has 79 years left. Not sure what to do, have read some bits on the web saying it will be 15k plus to get a lease extension. Do you have some advice on this? Should I contact the freeholder first and will they be able to give me a cost?

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