South Molton Lease Extensions Example Support Desk Enquiries

  • I am interested in getting a lease extension for a flat in South Molton and want to use a local . Is there a that you can recommend?
  • I am going to purchase a flat in South Molton. My offer is subject to the lease extension. The current 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?
  • We own a leasehold with a freeholder who has not given us a counter-notice for a lease extension for our flat in South Molton and are therefore considering the option of a vesting order. Is this something you can handle for us?
  • I am concerned that my niece is being hoodwinked. She put in an offer on a maisonette in South Molton, where the lease is nearon fivety five years but she was told by the estate agents that the vendor had extended it to 99 years. She has now been informed the owner was waiting for her to appoint solicitors before commencing with the lease extension. Sounds unscrupulous, also it could take a while to sort it all out. Am I being too sceptical?
  • I own a share of the freehold. There are three flats in the block. All the leaseholders are now requiring lease extensions. What's your solicitors fee?
  • We are proceeding with buying a 2 bed flat in South Molton. I was advised by the EA that the lease extension had already been completed while on a viewing (63 years remaining prior to extension). The description on the listing said "sold with a long lease". It transpires as we are about to exchange of contracts we find that the lease has not been extended. The homeowner supposedly has a quote but no finances to extend and consequently the seller wants to exchange and use the my deposit for the lease extension. My question is why has this only just been brought to my attention by my ?
  • 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?
  • We are hoping to purchase a property (a ground floor flat based inSouth Molton with share of freehold). During our search, we were always looking at flats that had at least eighty five years residual lease term. We came across a flat we liked and the selling agent promised us that the lease was long albeit not specifying a number. Yesterday our advised us the lease only has 56 years and therefore requires a lease extension. Should we run away, or should we negotiate our offer?
  • Are you able to provide an estimate to extend my aunt’s lease on a maisonette in South Molton. She already has a price from the freeholder for a lease extension but I am far from certain if it is too high.
  • I am currently negotiating a lease extension for my flat in South Molton 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?

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