Top Ten Questions relating to Standish Lease Extensions

  • My OH agreed with the freeholder for a lease extension on our flat in Standish, 9.5k for an additional 90yrs. Can you please assist us with this situation ?
  • I invested in buying a flat in Standish with a leasehold unexpired around 75 years and need a lease extension. Please can you advise me of the next steps
  • We have seen a house for sale for £195k and we are very interested but we've just found out that it is leasehold. There are 899 years remaining 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 owning the property. Any help 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?
  • My mortgage provider requires several hundred pounds for their for a "deed of substituted security" for the lease extension for my flat in Standish... I am unable to find any mention of this in my mortgage booklet... is this a normal cost that they charge?
  • I own a purpose-built flat located in a small development in Standish. The leasehold interest in the flat on a ninety five year lease which commenced on 2nd March 1969 with a non-reviewable ground rent of £25 per annum. I wish to obtain a lease extension. Is it possible for me to talk with someone to go through my options please?
  • I would like some guidance on leasehold property buying. We hope to buy a 1920s detached house which is leasehold property is there any problem involved or hidden costs. What are the downsides of purchasing a leasehold house in Standish area with a loft extension..We are really concerned as we are first time buyers...Please advise if we want to let the property?
  • I am the freeholder of a Victorian property split into two apartments. I reside in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current sixety four years. What are my next steps?
  • Coming up to 2 years that I have owned my garden flat in Standish. I have 71 yrs unexpired lease on the lease. I am now wanting to purchase a share of freehold or a lease extension. I acquired the property for 320K, it is now roughly 445k. I understand that 90 years is the period most people extend. I spoke to my about the process, he answered most of my questions but just have one left: Is there a benefit in getting a Standish based or any will do fine?
  • If somebody owns a flat with a lease of under 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?

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