Recently asked questions relating to Penkridge Lease Extensions

  • My wife and I are thinking about a lease extension for our garden flat based in Penkridge and we don't fully comprehend the communication that we got from our landlord company. How long will it take?
  • My partner has an apartment in Penkridge which we have just put on the market. The leasehold has about seventy five years left on it and we are concerned this will come up for anyone who may be interested. Can you please assist on how we commence arranging a lease extension? Many thanks.
  • 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 899 years outstanding 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 true? We wouldn't want to pay a mortgage for twenty years without the house being ours. Any information 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?
  • We have owned a leasehold flat for about twenty years. It now has 73 years unexpired lease on the lease. After a year of protracted negotiations through my and, mainly, surveyor I now have an offer from the landlord. I now have to make a decision as to whether to accept it or go to a Tribunal and would welcome advice.
  • My fiance and I would like to know the cost of a lease extension valuation for a property based in Penkridge. Is this something you can assist us with?
  • I am in need of some help with a lease extension. I live in Dublin but the property in question is based in Penkridge. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • I'm living with my mother and father but have a two bedroom first floor purpose built maisonette in Penkridge let out which has a 64 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 Penkridge 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 13k. Not sure sure whether to hold on or sell the flat?
  • Coming up to 2 years that I have owned my garden flat in Penkridge. I have fivety five years outstanding on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 342K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of financing - do they add it to their existing mortgage or pay it out in cash?
  • I'm hoping for some help with regard to extending the lease on my maisonette. The plan is to do this in six months time as we must move then. Unfortunately the current lease is now very short and therefore I'm guessing it'll be expensive to extend. I'm also thinking that I'll probably have to go down the tribunal route. Do I look to complete the lease extension now or wait until I sell my place and have it all tied in with the property sale?

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