Frequently asked questions relating to Newbridge Lease Extensions

  • We have seen a house for sale for £215k and we are very interested but we've just found out that it is leasehold. There are 928 years balance left so a lease extension is not a concern. 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 true? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any advice 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?
  • Are you able to advise on how much it would charges and the best way to start the lease extension process? I have approximately sixety eight years remaining and I own a garden flat in Newbridge.
  • My mortgage provider requires several hundred pounds for their for a "deed of substituted security" for the lease extension for my flat in Newbridge... I am unable to find any mention of this in my mortgage booklet... is this a standard cost that they charge?
  • I own a share of the freehold. There are five apartments in the house. All the leaseholders are now seeking lease extensions. How long will take to get a lease extension?
  • My husband and I would like to know the cost of a lease extension valuation for a property based in Newbridge. Would you be able to help?
  • Even though I may not need a lease extension but I do need a vesting order on a property I want to purchase in Newbridge. The house is freehold but the garden is officially leasehold, 1000 year lease from 1854. Its the garden area.
  • It says on your website the likely fee to extend a lease is £495. Is that the all inclusive cost including value added tax and the land registry fee? The premium has already been negotiated with the freeholder for the lease extension for my ground floor flat in Newbridge
  • I am the freeholder of a property in Newbridge and a leaseholder would like a lease extension. Her valuer has given a figure of £9,000, but has upped this by £2,000 at the drop of a hat. My surveyor has come back with £12,520. Negotiations have broken down so it looks at though we need to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just equipped with the valuations I have? If not, what fee would I be likely to incur?
  • We have a one bedroom apartment in Newbridge with a lease of 75 years left with a value of around £290000 we want to add 125 years to it, how much is that likely to cost?

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