Questions and Answers: Newbiggin By The Sea Lease Extensions

  • We have seen a house for sale for £195k and we are very interested but we've just found out that it is leasehold. There are 798 years residual lease term so a lease extension is not required. 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 guidance would be much appreciated.
  • I have contacted my freeholder to extend my lease for my flat in Newbiggin By The Sea. Her has been in contact concerning fees etc. I need a quote for dealing with the legalities to secure a lease extension. The flat currently has a 99 YR lease which started January 1993.
  • I am a freeholder of a block of flats in Newbiggin By The Sea, and the leaseholders are in the process of being granted lease extensions. I anticipate receiving the money next week. As I am not on self assessment do I get in touch with the tax authorities ?
  • We are considering purchasing a two bedroom ground floor purpose built flat in Newbiggin By The Sea which is a leasehold. I am enquiring as to the pros and cons of that - what happens when lease expires, the cost of a lease extension, can the freeholder of the property evict me from my own flat and prevent me from extending the lease?
  • I am looking for advice as I am interested in a property that has only a sixety four year lease and therefore requires a lease extension. Can I talk with someone to go through my options please?
  • I'm living with my parents but have a garden flat in Newbiggin By The Sea let out which has a fivety five 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 Newbiggin By The Sea 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 21k. Not sure sure whether to hold on or sell the flat?
  • I have a freehold of a 2 bedroom flat in Newbiggin By The Sea. The leaseholders have 57 years on a lease and wants to purchase another 90 years. The have offered me 25k. Is this around the right price?
  • I have seventy one years remaining on my lease of a ground floor flat in Newbiggin By The Sea, the Landlord requires a £18k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is too high
  • I was hoping you might be able to tell me the process of how to apply for a lease extension for my garden flat in Newbiggin By The Sea
  • I have a lease of sixety nine years remaining on my flat in Newbiggin By The Sea. 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?

    • Find out more about a accredited conveyancer's need to have CQS Policy Templates applicable for conveyancers in Newbiggin By The Sea