New Inn Lease Extensions

Frequently asked questions relating to New Inn Lease Extensions

I want to buy a leasehold property and extend the lease. The flat owner has been there over 2 years and will assign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?

We have seen a house for sale for £215k and we are very keen on but we've just found out that it is leasehold. There are 899 years residual lease term 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 the house being ours. Any guidance would be much appreciated.

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 New Inn, and my lease will reach 65 years this October. Could you advise me about the costs and time-frame to obtain your valuation? Also, do you represent your clients at the Tribunal court?

I am going to purchase a flat in New Inn. The offer is subject to the lease extension. The seller’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 Alliance & Leicester . Moreover, which are the following lease extension steps to complete the purchase?

We would like to extend our lease having owned the place for 2 years as of 22nd Feb 2016. It has nearon 60 years remaining currently. Hoping to get a lease extension with a further 90 years as expeditiously and stress free as is reasonably achievable.

Offer accepted on a a two bedroom second floor purpose built flat in New Inn, were told numerous times by the EA that the lease had over 100 years, we have just had our mortgage offer come through which states the lease as 85 years.We are soon to exchange contracts within a week. My question is why has this only just been brought to my attention by my ?

Coming up to two years that I have been in my one bed flat in New Inn. I have 70 years left on the lease. I am now looking either to purchase a share of freehold or a lease extension. 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: Is there a benefit in getting a New Inn based or any will do fine?

We have been in discussion with our freeholder after having a valuation on our studio flat in New Inn. We have a seventy two year lease and we wish to increase this to 99. The Freeholder has provided us with a financial figure that she is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a to handle this for us. Can you please provide me what your costs would be to act on the lease extension.

My mother is worried about obtaining a lease extension from a difficult freeholder. Even though the correct procedures were followed under the 1993 Act, the freeholder still attempted to charge ground rent of £300 increasing by 100% every twenty years of the new lease. Can you help?

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