Frequently asked questions relating to Penistone Lease Extensions

  • I acquired a maisonette in Penistone that I am now unable to sell due to the lease requiring a lease extension. Are you willing to help me with this situation ?
  • I’m just looking for a one bedroom ground floor purpose built flat to buy in the Penistone area and was enquiring how much would it cost to extend a lease? It has seventy years residual lease term...
  • We have seen a house for sale for £215k and we are very interested but we've just discovered that it is leasehold. There are 928 years unexpired so a lease extension is not a worry. 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 the house being ours. Any information would be much appreciated.
  • I am looking to purchase a garden flat in Penistone with a lease of sixety seven years but not sure what I will have to spend to renew so I can put in an offer given to future cost of a lease extension.
  • I need to talk to you about an apartment in Penistone, I am considering bidding at auction in the next few days. The flat only has a few years outstanding and I am curious about how much it would cost to get a lease extension and for your services.
  • My mortgage lender is requesting several hundred pounds for their to agree a lease extension for my flat in Penistone... I can find no reference of this in my mortgage literature... is this a usual fee to pay?
  • I would like some advice on purchasing a leasehold residence. We intend to buy a semi detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Penistone area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to rent out the property?
  • I'm intent on purchasing an apartment in Penistone at a price of £210,000 the flat has something like sixety one years left on the lease. My offer was conditional upon a lease extension... .. that was back in September, hoping I'd be in by Christmas. The seller has just informed me that they are prepared to knock £3k off if they don't have to deal with the lease extension. I'm unsure if I should take them up on the offer
  • Me and my OH are buying a ground floor flat in Penistone which has share of freehold and a leasehold. The lease was on the short side so the owner is in the process of extending the lease. The seller’s lawyer has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the conveyancing process is for our to do OS1 search on the property title. The concern here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new lease title number has not been issued. Is it correct that we must hold on until the new lease is registered?
  • I am currently negotiating a lease extension for my flat in Penistone 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?

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