Ryhope Lease Extensions: Q and A’s

  • I have just acquired a ground floor flat located inRyhope and I'm considering extending the lease as soon as I can e.g. after 24 months of ownership
  • I inherited a flat in Ryhope with a leasehold unexpired about sixety six years and need to extend it. Please can you advise me of the next steps
  • I need to extend my current lease can you help me with that? My investigation with the Land Registry reveal that it has 55 years balance left
  • 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 am about to view a two bedroom apartment, although not exactly my perfect property it has enough positives to suit me very well for my present situation. However after obtaining a copy of the title I've learnt that it only has 72 years outstanding on the lease. It is also a repo so I'm assuming that the bank will not be interested in doing a lease extension. My primary concern is would the short lease make it difficult to secure a mortgage?
  • My mortgage provider is requesting a £600 fee for their for a "deed of substituted security" for the lease extension for my flat in Ryhope... I am unable to find any mention of this in my mortgage literature... is this a normal charge?
  • We would like to extend our lease. We will have been in the flat for 2 years as of 11th March 2015. It has approximately 59 years remaining currently. Hoping to get a lease extension with a further 90 years as quickly and stress free as is reasonably achievable.
  • If somebody owns a flat with a lease of under 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?
  • Me and my fiance are in the throws of buying a home (a maisonette based inRyhope with share of freehold). During our search, we were always looking at apartments that had at least 83 years outstanding. We identified a apartment we liked and the estate agent assured that the lease was long albeit not specifying a number. This morning our informed us the lease only has 57 years and therefore requires a lease extension. Do we walk away, or should we negotiate our offer?
  • We currently own a garden flat in Ryhope 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 one 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. Do you have some advice on this? Do I contact the freeholder first and will they be able to give me a cost?

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