Questions and Answers: Rhos On Sea Lease Extensions

  • We have seen a house for sale for £215k and we are very interested but we've just found out that it is leasehold. There are 798 years unexpired 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 information would be much appreciated.
  • I am about to put an offer in on a 2 bed flat in Rhos On Sea with a lease of 62 years but unsure what it will cost me to renew so I can put in an offer given to future cost of a lease extension.
  • 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 are selling our ground floor flat in Rhos On Sea but we may need to extend the lease, or at least cover the expense of our buyers. Can you help me find a to undertake the legal formalities?
  • We are in a block containing three flats in Rhos On Sea and have been offered to buy the freehold for 7k per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • My mortgage lender is requesting a £450 fee for their for a "deed of substituted security" for the lease extension for my flat in Rhos On Sea... I can find no reference of this in my mortgage booklet... is this a standard fee to pay?
  • I am in need of some help with a lease extension. I live in Glasgow but the flat in question is based in Rhos On Sea. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • Just been over two years that I have owned my ground floor flat in Rhos On Sea. I have sixety three years outstanding on the lease. I am now wanting to buy a share of freehold or extend my lease. I purchased 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: What can I expect in terms of legal charges for a lease extension? Are they usually fixed or tend to increase over time (i.e. if the process drags to the tribunal etc)?
  • I'm seeking some advice with regard to a lease extension on my flat. I'll be looking to do this next winter as we have to 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 LVT 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?
  • I am concerned about seeking a lease extension from tricky freeholder. Regardless of the fact that the legal procedures were adhered to under the 1993 Act, the freeholder still attempted to get ground rent of £250 doubling every twenty five years of the new term. Can you help?

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