Recently asked questions relating to Ryhope Lease Extensions

  • I am interested in getting a lease extension for a flat in Ryhope and want to use a local . Are you able to help me find a ?
  • I am about to view a two bedroom maisonette, although not exactly my dream 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 seventy years left 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?
  • I am a FTB of a leasehold flat in Ryhope. The lease has just 56 years residual lease term and ground rent is £75. Is it possible for the flat owner to serve the Initial Notice and then transfer over the right to me as the purchaser once I complete the buying process so that I don't have to wait for the two year qualifying period before I can apply to for a lease extension or have to deal with all this expense later? I have read this may be possible but will it be very time costly to the flat owner? To add to the complexity it’s the case of an absent landlord, so I am not sure how this will play out.
  • I am in need of some help with a lease extension. I live in Belfast but the property in question is based in Ryhope. I would be grateful if you can give me a call when you get a chance to discuss the case.
  • Coming up to two years that I have been in my studio flat in Ryhope. I have sixety three yrs outstanding on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 350K, it is now roughly 425k. 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
  • If somebody 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 doing it?
  • I am planning on refinancing my one bedroom apartment in Ryhope and the bank that I am looking to switch to requires a minimum 80 years remaining on the lease in order for them to progress matters. We currently have around 65 years on the leasehold so require some advice, guidance, and some quotes to start the lease extension process
  • I have sixety six years remaining on my lease of a ground floor flat in Ryhope, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is too high
  • I am currently negotiating a lease extension for my flat in Ryhope as it is coming up to the 80 year mark. As I understood it, if you extend your lease by the 90 years available, you pay a premium (£thousands) but the ground rent is reduced to a peppercorn. I am now told that I have to continue paying ground rent. I thought the major cost of a lease extension was to compensate the freeholder as they wouldn't be collecting ground rent anymore?
  • I have a lease of seventy four years remaining on my flat in Ryhope. We are looking for a lease extension, so we contacted our freehold company and they came back with a quote that was double the amount and half the extension time that the lease extension calculator provided. Is there anyway, without racking up a huge legal bill, we can ask the freehold company to provide their computation of the amount and how they derived to it?

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