Top Ten Questions relating to Shiremoor Lease Extensions

  • I’m thinking about a lease extension for our ground floor flat in Shiremoor and we are confused by the communication that we got from our landlord company. Can you please help us with this situation?
  • I'm intending to make an offer on a house in Shiremoor but I'm concerned about it being leasehold. Do you know what title absolute means and is this regarding the lease? Also, we have asked to see a copy of the lease but the homeowner said they might not have it. We are worried about restrictions, and dont know what to do. We have also been approved for the mortgage but the lender doesn't know its leasehold. Do houses qualify for lease extension? Will this affect Nottingham Building Society giving us the mortgage now?
  • Hello. I need a to have a look at my lease extension before it's completed just to ensure there's nothing that I haven't seen - it's just a reissue with a few minor amendments.
  • 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 inherited a one bedroom first floor purpose built flat in Shiremoor. The start date for the lease was in 1997 for 99 years. Now I am looking for a lease extension. I am unclear about additional expenses, could you tell me please how much I should expect to spend on this?
  • I'm considering purchasing a studio flat (leasehold) but the freeholder has been absent for roughly 15yrs. I wonder whether it will be less expensive to try to purchase the reversionary title or to extend lease and apply for RTM?
  • I am a FTB of a leasehold flat in Shiremoor. The lease has just 68 years left and ground rent is £75. Is it possible for the homeowner to serve the Initial Notice and then transfer this right to me as the purchaser on the day of completion so that I can avoid waiting 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 is legal but will it be very time consuming to the seller? Unfortunately it’s the case of an absent freeholder, so I am not sure how does it work.
  • We are considering buying a maisonette in Shiremoor which is a leasehold. I am wondering what are the pros and cons of that - what occurs when lease expires, how much it costs to extend it, can the freeholder of the land evict me from my own flat and prevent me from extending the lease?
  • My husband and I have owned a leasehold flat for approximately twenty years. It now has fivety four years left on the lease. Following a year of difficult negotiations through my and, mainly, surveyor I now have an offer from the freeholder. I am at a decision point on whether to accept it or go to a Tribunal and would welcome some independent thoughts.
  • We have a garden flat in Shiremoor with a lease of seventy years left with a value of around £290000 we want to add 125 years to it, how much is that likely to cost?

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