Questions and Answers: Sneyd Green Lease Extensions

  • I invested in buying a 2 bed flat in Sneyd Green. The lease started in 1997 for 99 years. Now I am looking for a lease extension. I am unclear about further expenses, could you tell me please how much I should expect to spend on this?
  • I am going to purchase a flat in Sneyd Green. The offer is subject to the lease extension. The flat owner’s has given to the freeholder the Notice of Claim. Once this notice has been accepted by the freeholder, it is possible for the lessee to assign the benefit of that notice to me, the buyer, so that the buyer “stands in the shoes” of the Lessee, so to speak. I was wondering if this could be a problem for the mortgage lender Norwich and Peterborough Building Society. Moreover, which are the following lease extension steps to complete the purchase?
  • I am looking at purchasing an auction property and identified a studio flat in Sneyd Green. It only has a 41 year lease..the seller being mortgagees in possession will not want to mess around with negotiating a lease extension..what are the disadvantages of this other than the huge fee to extend the lease and reduced chance of getting a mortgage with Alliance & Leicester ?
  • Offer accepted on a a garden flat in Sneyd Green, were told numerous times by the EA that the lease had over 100 years, we have just had our mortgage offer sent through which states the lease as 82 years.We are soon to exchange contracts in a couple of days. My query is Have the estate agents breached any law by misrepresenting the position concerning the lease term?
  • I am hoping to extend the lease on my 2 bed flat in Sneyd Green I am looking for help to verify the premium. I have a quote from the landlord. I would like to go forward as soon as possible, but for the right premium and fee.
  • I'm intent on purchasing a flat in Sneyd Green valued at £195,000 the flat has something like sixety two years left on the lease. I put in an offer subject to the lease being renewed... .. that was back in September, expecting I'd be in before now. They have just come back saying that they are prepared to reduce the price by£8k if they don't have to deal with the lease extension. I'm unsure whether that's a good idea
  • My and my fiance know that others in the same building previously had a lease extension, and the freeholder seemed amenable. Therefore is seems worth taking risk of not having formal valuation and base the initial offer on on the premiums paid by others . This would save on double valuation charges. Would you recommend such a course of action?
  • Are you able to provide an estimate to extend my mum’s lease on a one bedroom apartment in Sneyd Green. She recently got a price from the landlord for a lease extension but I am unclear whether it is too expensive.
  • I am currently negotiating a lease extension for my flat in Sneyd Green 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 was hoping you might be able to tell me the process of how to apply for a lease extension for my one bed flat in Sneyd Green

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