Niton Lease Extensions

Niton Lease Extensions: Q and A’s

My wife and I have just completed on a ground floor flat inNiton and I'm deliberating extending the lease as soon as practicable e.g. after a couple of years

I’m about to offer on a one bedroom apartment to purchase in the Niton area and was after more information on what the likely fees would be for a lease extension? It has sixety six years left...

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'm planning on purchasing a one bedroom apartment (leasehold) but the landlord has been absent for nearly 15yrs. I wonder whether it will be cheaper to try to buy the reversionary title or to extend lease and apply for right to manage?

I am about to view a two bedroom flat, although not exactly my perfect property it has enough positives to suit me very well for my present circumstances. However after obtaining a copy of the title I've learnt that it only has 66 years outstanding on the lease. It is also a repo so I'm assuming that the lender will not be interested in extending the lease. My primary concern is would the short lease make it difficult to secure a mortgage?

I am concerned that my daughter is being hoodwinked. She submitted an offer on a studio flat in Niton, where the lease is about sixety two years but she was told by the estate agents that the vendor had extended it to 125 years. Only now has she been advised the flat owner was waiting for her to instruct solicitors before commencing with the lease extension. Seems underhand, also it will take a while to sort it all out. Am I being too sceptical?

I am looking at buying an auction property and identified a studio flat in Niton. It has just 41 year lease..the seller as mortgagees in possession dont want to mess around with seeking 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 The Royal Bank of Scotland?

I own the freehold of a three bedroom flat in Niton. The leaseholders have sixety eight years on a lease and wants to purchase another 90 years. The have offered me 22k. Is this around the right price?

I am currently negotiating a lease extension for my flat in Niton 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?

I was hoping you might be able to tell me the process of how to apply for a lease extension for my one bedroom apartment in Niton

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