Lease Extensions in Skellingthorpe

Skellingthorpe Lease Extensions: Q and A’s

I have shares in the freehold of 2 blocks of flats comprising of seven flats each. 2 of the leaseholders want to extend their leases and I'm enquiring about the procedure for this

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 798 years remaining so a lease extension is not required. 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 correct? We wouldn't want to pay a mortgage for twenty years without owning the property. Any feedback would be much appreciated.

I'm planning on purchasing a one bedroom ground floor purpose built maisonette (leasehold) but the freeholder has been missing for nearon 15yrs. I wonder whether it will be less expensive to try to purchase the freehold or to extend lease and apply for right to manage?

I am concerned that my niece is being hoodwinked. She put in an offer on a studio flat in Skellingthorpe, where the lease is just under fivety five years but she was advised by the selling agents that the homeowner had extended it to 99 years. Only now has she been informed the homeowner was holding off for her to retain solicitors ahead of instigating the lease extension. Sounds devious, also it could take months to sort it all out. Am I reading too much into it?

My partner and I have a ground floor flat in Skellingthorpe with 78 years remaining. Ten months ago we were quoted a deal to receive a lease extension for a further fifty years but also increase ground rent from notional to £200 per annum..plus a premium I think of about 9k. We have now decided to proceed but do we now have to renegotiate?

I am planning to extend the lease on my maisonette in Skellingthorpe I am looking for a local company to calculate the premium. I have a premium value that the freeholder has given me. I would like to go forward as soon as possible, but for the right premium and fee.

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 extending the lease?

My wife and I are aware that others in the same building previously had a lease extension, and the freeholder seemed reasonable. It therefore appears worth taking risk of avoiding a formal survey and calculate the initial offer on on the premiums paid by others . This would save on double valuation fees. Is this advisable?

I have 59 years remaining on my lease of a ground floor flat in Skellingthorpe, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable

We wanted an estimate on the cost of a lease extension and a few more questions answered regarding a lease extension for my 2 bed flat in Skellingthorpe

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