Redfield Lease Extensions

Examples of recent questions relating to Lease Extensions in Redfield

I need to extend my existing lease can you help me with that? I think it has seventy nine years residual lease term

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?

I plan on buying a flat based in Redfield. The offer is conditional upon a lease extension. The seller’s has given to the freeholder the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Nationwide Building Society. Moreover, which are the following lease extension steps to complete the purchase?

I am looking to either purchase the freehold or a lease extension of my property in Redfield and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a get a new mortgage with Santander to release of equity. The broker dealing with the remortgage suggested I get two quotes : one to extend the lease and one for outright purchase .The lease began in 1972 and since then the ground rent has increased from £15.00 per annum to £100 per annum.

I am a FTB of a leasehold flat in Redfield. The lease has only 64 years unexpired and ground rent is £95. Is it possible for the seller to serve the Initial Notice and then assign over the right to me as the purchaser on the day of completion so that I can avoid waiting for the two year requisite period before I can apply to for a lease extension or have to deal with all this expense later? I have read this is legal but will it be very time consuming to the vendor? To add to the complexity it’s the case of an absent freeholder, so I am not sure how does it work.

I have my suspicions that my niece might have had the wool pulled over her eyes. She put in an offer on a one bedroom apartment in Redfield, where the lease is nearon seventy nine years but she was advised by the selling agents that the flat owner had extended it to 125 years. She has now been advised the homeowner was holding off for her to appoint solicitors prior to commencing with the lease extension. Seems devious, also it will take months to sort it all out. What do you think?

I am considering buying an auction property and identified a one bed flat in Redfield. It only has a fifty year lease..the current owner as mortgagees in possession dont want the aggravation of negotiating a lease extension..what are the disadvantages of this other than the expensive fee to extend the lease and decreased chance of getting a mortgage with Leeds Building Society?

I'm intent on acquiring an apartment in Redfield at a price of £195,000 the flat has just under 56 years remaining on the lease. I put in an offer conditional upon a lease extension... .. that was back in June, hoping I'd have moved in by now. The seller has just come back saying they'll knock £4k off if they don't have to deal with the lease extension. I'm not sure whether that's a good idea

We currently own a one bed flat in Redfield and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has sixety seven years left. Not sure what to do, have read some bits on the web saying it will be 20k plus to get a lease extension. Can you offer some advice on this? Do I contact the freeholder first and will they be able to give me a cost?

Do you handle lease extensions on land? (a plot of land in Redfield with 82yrs remaining)

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