Frequently asked questions relating to Snowdonia Lease Extensions

  • 35k agreed with the landlord’s agents, just attempting to find a Snowdonia for a lease extension. Our flat has around sixety two yrsleft. Can you please help us with this situation ?
  • I'm planning to make an offer on a house in Snowdonia 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 Alliance & Leicester giving us the mortgage now?
  • We have seen a house for sale for £185,000 and we are very interested but we've just found out that it is leasehold. There are 928 years outstanding so a lease extension is not a concern. 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 true? We wouldn't want to pay a mortgage for twenty years without owning the property. Any feedback would be much appreciated.
  • I am looking for a in Snowdonia and they need to be on the Virgin Money approved conveyancers panel as we need a lease extension and refinance simultaneously. Are you able to recommend a ?
  • I have contacted my freeholder to extend my lease for my flat in Snowdonia. Her has been in contact concerning costs etc. I need an estimate for dealing with the legalities to secure a lease extension. The property currently has a 99 YR lease which started June 199.
  • I'm looking for a flat to buy in Snowdonia and I'm not really familiar with the leasehold concept. I've identified a one bedroom apartment I like with a 87 years lease. I've read that I can get a lease extension after a couple of years, but:- Should I be looking for some conditions that would prevent me for getting a lease extension?
  • I will soon view a two bedroom flat, although not exactly my perfect property it has enough positives to suit me very well for my present situation. However after downloading a copy of the title I've learnt that it only has 73 years left on the lease. It is also a repossession so I'm assuming that the vendor 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 the owner of a purpose-built apartment in a small development in Snowdonia. The leasehold interest in the flat on a ninety five year lease started from 21st March 1970 with a non-reviewable ground rent of £10 per annum. I wish to obtain a lease extension. Can I talk with someone to go through my options please?
  • My husband and I are hoping to buy a property (a maisonette inSnowdonia with share of freehold). Throughout our search, we were always looking at properties that had at least eighty five years left on the lease. We found a place we liked and the selling agent assured that the lease term was not an issue. Today our informed us the lease only has fivety eight years and therefore requires a lease extension. Do we run away, or should we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?
  • I am currently in the process of refinancing my garden flat in Snowdonia and the mortgage company that I am looking to move to requires at least 80 years remaining on the lease in order for them to take the mortgage forward. We currently have around 62 years on the leasehold so require some help, guidance, and some quotes to set the wheels in motion for a lease extension

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