Common questions relating to St Mellons Lease Extensions

  • We have seen a house for sale for £195k and we are very interested but we've just discovered that it is leasehold. There are 798 years left so a lease extension is not a worry. 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 25 years without the house being ours. Any information would be much appreciated.
  • This flat I have in mind requires only ground rent. Long lease so no lease extension required. I have asked the estate agents as to what happens to building insurance and responsibility for communal areas and if one of the two flats which make up the property wants to make alterations.They said they did not know. I cannot see how one could get buildings insurance for the whole building shared with another flat, either downstairs or upstairs. I do need to clarify things like this before I undertake all the expenses involved in purchasing a property I feel. Do freeholders actually supply their own insurance?
  • The terms for the lease on my flat in St Mellons are 95 years from 15 Jan 1989. Can you provide me a quote to extend the lease if I give you more details please?
  • I am thinking about whether to purchase the freehold or a lease extension of my property in St Mellons and have been in touch with the freeholder, have had quote for around £4k to extend the lease. I will be doing a get a new mortgage with Chelsea Building Society to release of equity. The broker dealing with the remortgage suggested I get two quotes : one to extend the lease and one for the freehold purchase .The lease commenced in 1981 and since then the ground rent has been raised from £38.00 per year to £125 per year.
  • I am a landlord of a block of flats in St Mellons, and the leaseholders are in the process of being granted lease extensions. I anticipate receiving the money next month. As I am not on self assessment do I get in touch with the tax man ?
  • I am looking at acquiring an auction property and identified a studio flat in St Mellons. It has just 48 year lease..the vendor being mortgagees in possession will not want the aggravation of negotiating a lease extension..what are the disadvantages of this except for the costly fee to put a new lease on it and reduced chance of getting a mortgage with Bank of Ireland?
  • I am planning to get a lease extension and am wondering what 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?
  • My husband has a share of freehold, with two other leaseholders in a building in St Mellons. House converted into three apartments. He has a lease, which has nearon sixety six yrs outstanding. Does he have to do the lease extension at the same time with the other tenants, or could he extend the lease on his own?
  • Although I do not need a lease extension but I do need a vesting order on a property I want to acquire in St Mellons. The house is freehold but the garden is officially leasehold, 1000 year lease from 1895. Its the garden area.
  • I'm intent on acquiring a flat in St Mellons valued at £256,000 the flat has approximately sixety nine years left on the lease. I put in an offer subject to the lease being extended... .. that was back in September, expecting I'd be in by now. The seller has just come back saying they'll knock £5k off if they don't have to deal with the lease extension. I'm not sure whether that's a good idea

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