Frequently asked questions relating to Spennymoor Lease Extensions

  • Do you only advise on lease extensions in Spennymoor? I own a flat in Abbey Wood with 90 years remaining, I am looking for a quote from a .
  • I am looking into the costs of carrying out a lease extension for my garden flat in Spennymoor, and would like some figures on that.
  • I'm looking for a flat to purchase in Spennymoor and I'm not really familiar with the leasehold title. I've found a studio flat I like with a 82 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 am a first time buyer of a leasehold flat in Spennymoor. The lease has only sixety two years left and ground rent is £50. Is it possible for the flat owner to serve the Initial Notice and then assign this right to me as the buyer on the day of completion so that I can avoid waiting for the two year requisite 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 vendor? Unfortunately the freeholder can not be found, so I am not sure how this will play out.
  • I have my suspicions that my niece is being hoodwinked. She submitted an offer on a garden flat in Spennymoor, where the lease is roughly 61 years but she was informed by the selling agents that the vendor had extended it to 125 years. She has now been told the flat owner was holding off for her to retain solicitors ahead of instigating the lease extension. Sounds underhand, also it could take a while to sort it all out. Am I reading too much into it?
  • My mortgage lender requires a £450 fee for their to agree a lease extension for my flat in Spennymoor... I can find no reference of this in my mortgage literature... is this a normal charge?
  • My brother and I are considering buying a one bedroom apartment in Spennymoor which is a leasehold. I am enquiring as to the pros and cons of that - what happens when lease expires, the cost of a lease extension, can the freeholder of the land evict me from my own flat and block me from having a lease extension?
  • We would like to know the cost of a lease extension valuation for a property based in Spennymoor. Would you be able to help?
  • I'm intent on acquiring a flat in Spennymoor valued at £256,000 the flat has approximately seventy three years remaining on the lease. I put in an offer conditional upon a lease extension... .. that was back in September, expecting I'd have completed before Christmas. The owner has just come back saying they'll reduce the price by£8k if they don't have to deal with the lease extension. I'm not sure if I should take them up on the offer
  • My wife and I are are hoping to complete on a garden flat in Spennymoor which has share of freehold and a leasehold. The lease was starting to get low so the vendor commenced dealing with a lease extension. The vendor has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the house buying process is for our to do a pre-completion search on the lease. The concern here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new lease title number has not been issued. Is it right that we have to hold on pending registration of the new lease?

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