Recently asked questions relating to St Neots Lease Extensions

  • So this is the scenario: I invested in buying a studio flat in St Neots that I am finding difficult to sell due to the lease requiring a lease extension. What's your legal fee ?
  • My wife has an apartment in St Neots which we are about to put on the market. The leasehold has slightly less than 63 years balance left on it and we are concerned this will come up for anyone who may be interested. Can you please assist on how we get started on a lease extension? Many thanks.
  • I bought a property in St Neots and it has slightly less than sixety three years outstanding. I'd like to arrange a lease extension by twenty years
  • I want to purchase a leasehold property and lease extension. The flat owner has been there for four years and will sign the notice. He will let me have the notice on exchange and then I will serve it in the landlord. Is this OK ?
  • I bought a ground floor flat in St Neots. The start date for the lease was in 1998 for 99 years. Now I am looking for a lease extension. I am not entirely sure about additional expenses, could you tell me please how much I should expect to spend on this?
  • I am looking at acquiring an auction property and identified a two bed flat in St Neots. It only has a fifty year lease..the seller being mortgagees in possession will not want to mess around with applying for a lease extension..what are the disadvantages of this other than the costly fee to extend the lease and decreased chance of obtaining a mortgage with Britannia?
  • My flat in St Neots is up for sale and I have a hopefully firm offer. There is 79 years unexpired on the lease and I want a lease extension. What does it cost on average to extend in this area by, say,thirty years
  • If a leaseholder 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 doing it?
  • I own the freehold reversion of a property in St Neots where the leaseholder would like a lease extension. Her valuer has provided a figure of £9,000, but has upped this by £2,000 at the drop of a hat. My surveyor has come back with £12,520. She does not appear to wish to negotiate wanting to go to a FTT. If a lease extension does go to tribunal, can I handle the matter myself, just armed with the valuations I have? If not, what costs would I be likely to incur?
  • I am currently negotiating a lease extension for my flat in St Neots 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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