Common questions relating to New Inn Lease Extensions

  • My partner and I are thinking about a lease extension for our flat in New Inn and we are confused by the communication that we got from our landlord company. How long will it take?
  • I have shares in the freehold of 2 blocks of flats comprising of 8 flats each. 2 of the leasehold owners want a lease extension and I'm wondering about the procedure for this
  • I bought a property in New Inn and it has around 62 years unexpired. I'd like to arrange a lease extension by twenty years
  • We have seen a house for sale for £185,000 and we are very interested but we've just discovered that it is leasehold. There are 928 years balance left so a lease extension is not an issue. We didn't know what this meant but the internet suggests we wouldn't own the land or property, just the lease to live there. Is this correct? We wouldn't want to pay a mortgage for twenty years without owning the property. Any help would be much appreciated.
  • Think I may have made a mistake, I am seeking a in New Inn who has Leasehold Tribunal expertise in relation to lease extensions. Is this something you can assist me with?
  • My partner and I have a ground floor flat in New Inn with 67 years to run. Last year we were quoted a deal to receive a lease extension for another thirty years but also increase ground rent from nominal to £250 per year..plus a premium I think of about 9k. We have now decided to move forward but do we now have to start the negotiations again?
  • I am in need of some help with a lease extension. I live in Belfast but the property in question is based in New Inn. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • Coming up to 2 years that I have owned my ground floor flat in New Inn. I have sixety three years unexpired lease on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 350K, it is now roughly 425k. 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
  • We know that others in the same block previously had a lease extension, and the landlord seemed reasonable. Therefore is seems worth taking risk of not having formal valuation and base the initial offer on previous prices . This would save on double valuation charges. Would you suggest such a course of action?
  • I have a lease of 71 years remaining on my flat in New Inn. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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