Prudhoe Lease Extensions Example Support Desk Enquiries

  • 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 928 years residual lease term so a lease extension is not a concern. 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 guidance would be much appreciated.
  • I am looking to buy a garden flat in Prudhoe with a lease of fivety five years but not sure how much it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • I am looking into the costs of carrying out a lease extension for my garden flat in Prudhoe, and would like some figures on that.
  • I am thinking about whether to purchase the freehold or a lease extension of my property in Prudhoe and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a refinance with Lloyds TSB Bank to free up equity. My broker handling the remortgage suggested I get two estimates : one to extend the lease and one for the freehold acquisition .The lease commenced in 1991 and since then the ground rent has increased from £38.00 per annum to £200 per year.
  • I'm looking for a flat to purchase in Prudhoe and I'm not really familiar with the leasehold arrangement. I've identified a maisonette I like with a 87 years lease. My research reveals that I can get a lease extension after 2 years, but:- Is this a given?
  • My mortgage provider requires a £500 fee for their to approve the lease extension deed for my flat in Prudhoe... I am unable to find any reference of this in my mortgage guide... is this a normal fee to pay?
  • We would like to know the cost of a lease extension valuation for a property based in Prudhoe. Is this something you can assist us with?
  • If a leaseholder owns a flat with a lease of less than 80 years, they can afford the lease extension by borrowing the funds against the property, and the value of the flat with the new lease will more than cover the cost of the extension, then is there any justification for not extending the lease?
  • We have been in discussion with our freeholder after having a valuation on our one bedroom apartment in Prudhoe. We have a seventy five year lease and we wish to increase this to 99. The Freeholder has provided us with a premium amount that he is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a to handle this for us. Can you please provide me what your costs would be to act on the lease extension.
  • I'm looking for some advice with regard to a lease extension on my maisonette in Prudhoe. I'll be looking to do this sometime next year as we need to move at some point 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. Should I look to extend it now or wait until I sell my place and have it all tied in with the property sale?

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