Recently asked questions relating to New Milton Lease Extensions

  • I want to acquire a leasehold property and lease extension. The current owner has been there over two 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 ?
  • I am considering whether to purchase the freehold or a lease extension of my property in New Milton and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a remortgage with Bank of Ireland to free up equity. My broker dealing with the remortgage suggested I get two quotes : one for the lease extension and one for outright acquisition .The lease commenced in 1979 and since then the ground rent has increased from £25.00 per year to £300 per annum.
  • I am considering buying an auction property and found a one bed flat in New Milton. It has just fifty-one year lease..the seller as mortgagees in possession will not want the aggravation of negotiating a lease extension..what are the drawbacks of this other than the expensive fee to extend the lease and decreased chance of obtaining a mortgage with Coventry Building Society?
  • I an interested in finding out more about leasehold property buying. We plan to buy a 1920s detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in New Milton area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to let the property?
  • My nephew has a share of freehold, with two other leaseholders in a building in New Milton. House converted into three flats. He has a lease, which has around seventy five years remaining. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?
  • Me and my OH have been in discussion with our freeholder after having a valuation on our three bed flat in New Milton. We have a 58 year lease and we wish to increase this to 99. The Freeholder has supplied us with a premium amount 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 our behalf.
  • Hello I own the freehold title in a 3 bedroom flat in New Milton. The leaseholder has a 72 year lease and would like to purchase further 90 years. He is offering me £21,000 but I am not sure if this is in the right ballpark
  • We currently own a one bedroom apartment in New Milton 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 63 years left. Not sure what to do, have read some bits on the web saying it will be 20k plus to get a lease extension. Can you offer some advice on this? Do I contact the landlord first and will they be able to give me a cost?
  • I have seventy three years remaining on my lease of a ground floor flat in New Milton, the Landlord requires a £18k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable
  • I am currently negotiating a lease extension for my flat in New Milton 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?

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