Questions and Answers: Splott Lease Extensions

  • I am looking for a rough estimate of what a lease extension will cost for a flat I would like to purchase. It has 79 years remaining.
  • 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 928 years residual lease term 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 correct? We wouldn't want to pay a mortgage for 25 years without the house being ours. Any information would be much appreciated.
  • Hello. I need a to have a look at my lease extension ahead of it being formalised just to make sure there's nothing that I haven't seen - it's just a reissue with a few minor amendments.
  • I invested in buying a ground floor flat in Splott. The lease started in 2001 for 99 years. Now I am looking for a lease extension. I am uncertain about additional expenses, could you tell me please how much I should expect to spend on this?
  • I plan on buying a flat in Splott. My offer is conditional upon a lease extension. The vendor’s has served 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 HSBC Bank. Moreover, which are the following lease extension steps to complete the purchase?
  • We are considering buying a one bedroom apartment in Splott which is a leasehold. I am wanting to weigh up the pros and cons of that - what occurs when lease ends, the cost of a lease extension, can the freeholder of the property evict me from my own flat and block me from having a lease extension?
  • My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
  • I'm living with my parents but have a one bedroom apartment in Splott let out which has a seventy eight year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Splott for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 13k. Should I keep or sell the flat?
  • I do not need a lease extension but I do need a vesting order on a property I want to acquire in Splott. The house is freehold but the garden is officially leasehold, 1000 year lease from 1889. Its the garden area.
  • I am currently negotiating a lease extension for my flat in Splott 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?

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