Questions and Answers: Trearddur Bay Lease Extensions

  • I am in need of a rough estimate of what a lease extension will cost for a flat I would like to purchase. It has 65 years residual lease term.
  • We have seen a house for sale for £215k and we are very keen on but we've just found out that it is leasehold. There are 928 years balance left so a lease extension is not required. 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 the house being ours. Any help would be much appreciated.
  • Hi. I need a to review my lease extension before it's formalised just to make sure there's nothing that I haven't seen - it's just a surrender and regrant with a few minor amendments.
  • I have contacted my freeholder for a lease extension for my flat in Trearddur Bay. Her has been in contact regarding costs etc. I need an estimate for dealing with the legalities to secure a lease extension. The apartment currently has a 99 YR lease which started Septembmer 1986.
  • I am planning to get a lease extension and am wondering which step I have to do first, I have been previously told that I have to have the finances in place before I commence the process, is this correct?
  • I'm living at mother and father but have a garden flat in Trearddur Bay let out which has a sixety four year lease. Mortgage broker said I can remortgage as a buy to let instead of consent to let and release 55-60k which on top of a new mortgage based on my income. Not much about in Trearddur Bay for me to get my own place. If I sell I will only get 150-160 due to tenant (8 months left on AST) and lease. A lease extension will cost 21k. Should I keep or sell the flat?
  • Just a quick question, how much are the legal fees for a lease extension on a residential property in Trearddur Bay for a two bed flat - sec 42 having been issued?
  • I am currently in the process of refinancing my three bed flat in Trearddur Bay and the bank that I am looking to move to needs a minimum 85 years remaining on the lease in order for them to progress matters. I have discovered that I currently have around seventy nine years on the leasehold so looking for some help, guidance, and some quotes to get the wheels in motion for a lease extension
  • We currently own a one bedroom apartment in Trearddur Bay 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 79 years left. Not sure what to do, have read some bits on the web saying it will be 20k plus to get a lease extension. Can you offer some advice on this? Do I contact the freeholder first and will they be able to give me a cost?
  • I am currently negotiating a lease extension for my flat in Trearddur Bay 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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