FAQs concerning Stoke Bishop Lease Extensions

  • My name´s Alexander. I’m house hunting in Stoke Bishop I'm thinking about offering on a one bedroom apartment online, with just under seventy nine years unexpired lease, how much does it cost on average to get a lease extension by, say, twenty years?
  • I am considering investing in a second home but it has a lease that expires in fifteen years. Its in Stoke Bishop - I wanted to see if with your services it is possible for this to be extended?
  • We are selling our garden flat in Stoke Bishop but we may require a lease extension, or at least cover the expense of our purchaser. Are you able to help me find a to assist?
  • I am about to view a one bedroom flat, although not exactly my perfect property it has enough positives to suit me very well for my present situation. However after downloading a copy of the title I've learnt that it only has fivety eight years left on the lease. It is also a repo so I'm assuming that the vendor will not be interested in extending the lease. My primary concern is would the short lease make it difficult to secure a mortgage?
  • My wife and I are considering purchasing a one bedroom apartment in Stoke Bishop which is a leasehold. I am wondering what are the pros and cons of that - what happens when lease expires, the cost of a lease extension, can the freeholder of the property evict me from my own flat and block me from having a lease extension?
  • My son has a share of freehold, with two other leaseholders in a building in Stoke Bishop. House split into three flats. He has a lease, which has about 70 years unexpired lease. 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?
  • Just been over 2 years that I have owned my one bedroom apartment in Stoke Bishop. I have sixety nine years left on the lease. I am now wanting to buy a share of freehold or a lease extension. I acquired the property for 342K, it is now roughly 425k. 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: I realize this will cost me 10k+, it is not easy to drop the cash (even if I may have savings) to cover it. What do most people do in terms of funding the lease extension - do they add it to their existing mortgage or pay it out in cash?
  • If a leaseholder 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?
  • I am planning on remortgaging my garden flat in Stoke Bishop and the next lender that I am looking to move to requires a minimum 80 years on the leasehold of my property in order for them to progress matters. We currently have around seventy two years on the leasehold so looking for some advice, guidance, and some quotes to set the wheels in motion for a lease extension
  • I am currently negotiating a lease extension for my flat in Stoke Bishop 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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