Newark on Trent Lease Extensions

Recently asked questions relating to Newark on Trent Lease Extensions

My husband and I are thinking about a lease extension for our two bed flat based in Newark on Trent and we don't fully understand the letter that we got from our freehold company. How long will it take?

I have shares in the freehold of buildings comprising of six flats each. Two of the leasehold owners want to extend their leases and I'm enquiring about the procedure for this

I am considering investing in a second home but it has a lease that expires in twenty years. Its in Newark on Trent - I wanted to see if with your services this could be extended?

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 am going to purchase a flat located in Newark on Trent. The offer is conditional upon a lease extension. The homeowner’s has given to the freeholder the Notice of Claim. 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 TSB. Moreover, which are the following lease extension steps to complete the purchase?

My partner and I have a leasehold flat in Newark on Trent with 72 years unexpired. Last year we were quoted a deal to grant a lease extension for a further thirty years but also uplift the ground rent from nominal to £200 per annum..plus a premium I think of approximately 10k. We have now decided to move forward but do we now have to start the negotiations again?

If somebody 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 are in the throws of buying a home (a two bedroom second floor purpose built flat based inNewark on Trent with share of freehold). During our search, we were always looking at properties that had a minimum 84 years remaining. We came across a place we fell in love with and the estate agent promised us that the lease term was not an issue. Today our advised us the lease only has fivety four years and thus needs a lease extension. Do we walk away, or do we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?

I know that others in the same building previously had a lease extension, and the landlord was reasonable. It therefore appears worth taking risk of avoiding a formal survey and base the initial offer on on the prices by others . This would save on double valuation fees. Is this advisable?

We currently own a maisonette in Newark on Trent 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 seventy four years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Can you offer 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 Newark on Trent