FAQs concerning Presteigne Lease Extensions

  • So this is the scenario: I acquired a three bed apartment in Presteigne that I am now unable to sell as a result of the lease needing a lease extension. Are you able to help me with this situation ?
  • I own a leasehold flat in the Presteigne area and was curious whether I could get a lease extension. What are your processes and charges. Has 66 years residual lease term
  • I want to buy a leasehold property and extend the lease. The current owner has been there over two years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • We have seen a house for sale for £185,000 and we are very interested but we've just found out that it is leasehold. There are 798 years residual lease term so a lease extension is not an issue. 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 help would be much appreciated.
  • We are the registered owners of a leasehold with a landlord who has not given us a counter-notice for a lease extension for our flat in Presteigne and are therefore considering the option of a vesting order. Is this something you can help us with?
  • I am a landlord of a block of flats in Presteigne, and the leaseholders are in the process of being issued lease extensions. I anticipate receiving funds next week. As I am not on self assessment do I contact the Inland Revenue ?
  • 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?
  • I note that your website states the likely fee for dealing with a lease extension is £495. Is that the total cost including value added tax and the HMLR fee? The premium has already been agreed with the freeholder for the lease extension for my three bedroom first floor purpose built flat in Presteigne
  • I'm intent on purchasing a flat in Presteigne valued at £256,000 the flat has approximately 74 years remaining on the lease. My offer was subject to a lease extension... .. that was back in June, hoping I'd have moved in before Christmas. They have just come back saying they are willing to knock £3k off if they don't have to deal with the lease extension. I'm not sure whether that's a good idea
  • I am planning on refinancing my three bed flat in Presteigne and the bank that I am looking to switch to needs at least 85 years on the leasehold of my property in order for them to progress matters. We currently have around seventy years on the leasehold so require some advice, guidance, and some quotes to set the wheels in motion for a lease extension

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