Questions and Answers: Paignton Lease Extensions

  • My name´s Teddy. I’m flat hunting in Paignton I'm considering offering on a three bed flat online, with around 64 years left, how much does it cost on average to extend in this location by, say, 35 years?
  • I have been in touch with my freeholder to extend my lease for my flat in Paignton. His has been in contact regarding fees etc. I need an estimate for dealing with the legalities to secure a lease extension. The flat currently has a 99 YR lease which started March 1994.
  • I am thinking about buying an auction property and found a two bed flat in Paignton. It only has a 50 year lease..the current owner as mortgagees in possession dont want to mess around with seeking a lease extension..what are the drawbacks of this other than the huge fee to put a new lease on it and decreased chance of obtaining a mortgage with Norwich and Peterborough Building Society?
  • I intend to buy a one bed flat in Paignton for asking price of 145k, which has seventy five years lease left on it. I appreciate that ideally, the seller would start the process by serving a section 42 notice to start the lease extension process but the seller is refusing to assist. My question is: If the freeholder does not agree to a marriage value (part of lease extension fees) of surveyor, how lengthy and difficult is the process of going down the route of Leasehold Valuation Tribunal?
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • Me and my OH have owned a leasehold flat for about eighteen years. There are seventy five years outstanding on the lease. After a year of protracted negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I now have to make a decision as to whether to accept it or go to LVT and would welcome some independent thoughts.
  • I have a flat in Paignton with sixety four years left on the lease. I need a to help me achieve a lease extension. Can you help?
  • I am worried about getting a lease extension from tricky freeholder. Regardless of the fact that the legal procedures were adhered to under the 1993 Act, the landlord still tried to get ground rent of £300 doubling every twenty years of the new lease. Can you help?
  • I am currently negotiating a lease extension for my flat in Paignton 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?
  • We wanted an estimate on the cost of a lease extension and a few more questions answered regarding a lease extension for my two bedroom first floor purpose built flat in Paignton

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