Common questions relating to Steyning Lease Extensions

  • My co-lessees and I are in a building of three flats in Steyning and have been offered to buy the freehold for £5000 per flat rather than go for lease extensions. We are all in agreement that we want to do this but how do we get started and what is the likely cost?
  • I am looking to either purchase the freehold or a lease extension of my property in Steyning and have been in touch with the freeholder, have had quote for around £3k to extend the lease. I will be doing a refinance with Virgin Money to free up equity. My adviser dealing with the remortgage suggested I get two estimates : one to extend the lease and one for outright purchase .The lease started in 1979 and since then the ground rent has increased from £25.00 per year to £100 per annum.
  • I have a leasehold apartment in Steyning. I have built a huge extension and have not informed the leaseholder. What are my options?
  • I will soon view a two bedroom maisonette, although not exactly my perfect property it has enough positives to suit me very well for my present situation. However after obtaining a copy of the title I've learnt that it only has seventy four years outstanding on the lease. It is also a repossession so I'm assuming that the vendor will not be interested in doing a lease extension. My main concern is would it be difficult to sell on without a lease extension?
  • I'm looking at purchasing a flat in Steyning at a price of £195,000 the flat has something like 55 years unexpired on the lease. My offer was conditional upon a lease extension... .. that was back in September, expecting I'd have moved in by now. They have just come back saying they'll knock £5k off if they don't have to deal with the lease extension. I'm unsure if I should take them up on the offer
  • My brother and I are in the throws of buying a property (a garden flat located inSteyning with share of freehold). During our search, we were always looking at flats that had a minimum 84 years left on the lease. We came across a flat we fell in love with and the estate agent assured that the lease term was not an issue. Today our advised us the lease only has seventy five years and thus needs a lease extension. Should we walk away, or should we lower our offer by the estimated difference in value resulting from the short lease term setting aside that money to cover the lease extension?
  • We currently own a garden flat in Steyning and are looking to sell it this year so we can carry out some improvements on our family home. I checked the lease and it has sixety five years left. Not sure what to do, have read some bits on the web saying it will be 13k plus to get a lease extension. Do you have some advice on this? Should I contact the freeholder first and will they be able to give me a cost?
  • I have sixety eight years remaining on my lease of a ground floor flat in Steyning, the Landlord requires a £25k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is acceptable
  • I am currently negotiating a lease extension for my flat in Steyning 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?
  • We have a one bedroom ground floor purpose built maisonette in Steyning with a lease of sixety two years left with a value of around £410000 we want to add 125 years to it, how much is that likely to cost?

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