Questions and Answers: St Fagans Lease Extensions

  • I purchased a flat in St Fagans with a leasehold unexpired roughly seventy six years and need to extend it. Please can you advise me of the next steps
  • I am interested in getting a lease extension for a flat in St Fagans and want to use a local . Is there a that you can recommend?
  • I am looking to either purchase the freehold or a lease extension of my property in St Fagans and have been in touch with the freeholder, have had quote for around £2500 to extend the lease. I will be doing a get a new mortgage with Godiva Mortgages Ltd to free up equity. My adviser handling the remortgage suggested I get two quotes : one for the lease extension and one for outright purchase .The lease started in 1981 and since then the ground rent has been raised from £15.00 per annum to £100 per year.
  • I am considering acquiring an auction property and identified a one bed flat in St Fagans. It only has a 50 year lease..the seller as mortgagees in possession dont want to mess around with seeking a lease extension..what are the drawbacks of this other than the expensive fee to extend the lease and decreased chance of getting a mortgage with Halifax?
  • Regarding a leasehold in St Fagans. GFF maisonette. 75 yrs remaining. I have an agreed lease extension to £20k for 115yrs. Landlord also requested Initial Notice which I think is a tad over the top. Advice required.
  • My husband and I have a residential flat in St Fagans with 61 years to run. Last year we were quoted a deal to have a lease extension for a further fifty years but also uplift the ground rent from notional to £250 per annum..plus a premium I think of approximately 9k. We have now decided to move forward but do we now have to start the negotiations again?
  • My partner and I are proceeding with a purchase of a one bedroom apartment in St Fagans. I was assured that the lease had been extended (sixety years unexpired lease prior to extension). The description on the listing stated "sold with a long lease". It transpires at the point of exchange of contracts we find that the lease has not been extended. The vendor supposedly has a quote but no finances to extend and consequently the flat owner wishes to exchange and use the 10% deposit for the lease extension. My question is is it not odd that my failed to spot this far earlier than just before exchange?
  • I am planning to get a lease extension and am wondering which step I have to do first, I have been previously advised that I have to have the finances in place before I set the ball rolling, is this correct?
  • I an interested in finding out more about leasehold property buying. We intend to buy a semi detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in St Fagans area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to sublet the property?
  • I am currently negotiating a lease extension for my flat in St Fagans 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 St Fagans