Frequently asked questions relating to Seaton Delaval Lease Extensions

  • We are in a block comprising three flats in Seaton Delaval and have been offered to buy the freehold for £5000 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?
  • The terms for the lease on my flat in Seaton Delaval are 99 years from 12 Jan 1988. Can you supply me me a quote to extend the lease if I give you more information please?
  • I bought a three bedroom first floor purpose built flat in Seaton Delaval. I am looking to extend lease on the property. It is around eighty one years. I would just like to know what your charges are and how long it would take for completion.
  • I am about to view a one bedroom flat, although not exactly my dream property it has enough positives to suit me very well for my present circumstances. However after downloading a copy of the title I've learnt that it only has seventy five years unexpired on the lease. It is also a repo so I'm guessing that the lender will not be interested in extending the lease. My main concern is would the short lease make it difficult to secure a mortgage?
  • I am a FTB of a leasehold flat in Seaton Delaval. The lease has just sixety four years residual lease term and ground rent is £25. Is it possible for the owner to serve the Notice of Claim and then assign this right to me as the purchaser on the day of completion so that I can avoid waiting for the 2 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 current owner? Unfortunately the freeholder is absent, so I am not sure how this will play out.
  • Regarding a residence in Seaton Delaval. lower maisonette. 54 yrs unexpired. I have an agreed lease extension to £14k for 135yrs. Freeholder also requested Initial Notice which I think should not be required. Can you assist.
  • I'm living at mother and father but have a garden flat in Seaton Delaval let out which has a 64 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 Seaton Delaval 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 19k. Should I keep or sell the flat?
  • If a leaseholder 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 the freeholder of a property in Seaton Delaval where the leaseholder has requested a lease extension. Her so called valuation expert has provided a figure of £9,000, but has upped this to £10,000 at the drop of a hat. My valuer has suggested a much higher premium. She does not appear to wish to negotiate wanting to go to LVT. If a lease extension does go to a FTT, can I handle the matter myself, just equipped with the valuations I have? If not, what charges would I be likely to incur?
  • I have 71 years remaining on my lease of a ground floor flat in Seaton Delaval, the Landlord requires a £18k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable

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