Questions and Answers: Rumney Lease Extensions

  • I’m just looking for a a property to buy in the Rumney area and was wondering how much would it cost to extend a lease? It has 68 years unexpired...
  • I have shares in the freehold of 2 blocks of flats comprising of seven flats each. 2 of the leasehold owners want to extend their leases and I'm wondering about the the process
  • We have seen a house for sale for £195k and we are very keen on but we've just found out that it is leasehold. There are 899 years balance left 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 feedback would be much appreciated.
  • I have contacted my freeholder for a lease extension for my flat in Rumney. Her has been in contact regarding charges etc. I need a quote for dealing with the legalities to secure a lease extension. The property currently has a 99 YR lease which started April 1992.
  • I will soon view a two bedroom flat, although not exactly my perfect property it has enough positives to suit me very well for my present circumstances. However after obtaining a copy of the title I've learnt that it only has 68 years left on the lease. It is also a repo so I'm assuming that the lender will not be interested in doing a lease extension. My primary concern is would it be difficult to sell on without a lease extension?
  • Ref a leasehold in Rumney. GFF maisonette. 60 yrs left. I have an agreed lease extension to £20k for 115yrs. Landlord also requested Section 42 Notice which I think should not be required. Can you assist.
  • I have a share of the freehold. There are four apartments in the block. All the leaseholders are now looking for lease extensions. What are the timescales to grant a lease extension?
  • I'm living at mother and father but have a one bed flat in Rumney let out which has a sixety six 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 Rumney 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 21k. Not sure sure whether to hold on or sell the flat?
  • I own the freehold reversion of a property in Rumney where the leaseholder has requested a lease extension. Her valuer has suggested a figure of £8,000, but has upped this by £2,000 without too much effort. My surveyor has come back with £12,520. She does not appear to wish to negotiate wanting to go to LVT. If a lease extension does go to tribunal, can I handle the matter myself, just armed with the valuations I have? If not, what costs would I be likely to face?
  • I am currently in the process of remortgaging my ground floor flat in Rumney and the next lender that I am looking to switch to requires at least 85 years remaining on the lease in order for them to take the mortgage forward. We currently have around fivety nine years on the leasehold so require some help, guidance, and some quotes to start the lease extension process

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