Questions and Answers: Woolacombe Lease Extensions

  • 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?
  • I would like to have my residential flat leasehold extension premium valued. The flat is in Woolacombe, and my lease will reach 63 years this February. Could you advise me about the costs and time-frame to obtain an appraisal? Also, do you represent your clients at the LVT court?
  • I am the owner of a purpose-built flat located in a small development in Woolacombe. The leasehold interest in the flat on a 101 year lease which commenced on 1 November 1972 with a fixed yearly rent of 45. I would like to obtain a lease extension. Can I talk with someone to go through my options please?
  • I am the freeholder of a Victorian property split into two flats. I live in the top floor flat and my neighbour in the lower flat. My neighbour has approached me for a lease extension from the current 64 years. What are my next steps?
  • I'm living at parents but have a one bedroom apartment in Woolacombe let out which has a 68 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 Woolacombe 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. Not sure sure whether to hold on or sell the flat?
  • My OH and I have been in discussion with our freeholder after having a valuation on our one bedroom apartment in Woolacombe. We have a seventy two year lease and we wish to increase this to 99. The Freeholder has given us with a premium amount that he is happy with to accept for the extension of the lease, which we are happy with as well and wish to proceed. All we need now is a to handle this for us. Can you please provide me what your costs would be to act on the lease extension.
  • Me and my wife are are hoping to complete on a garden flat in Woolacombe which has share of freehold and a leasehold. The lease was starting to get low so the owner commenced dealing with a lease extension. The owner has submitted the lease extension paperwork which will result in the registration of a new lease at the land registry. An essential part of the house buying process is for our to do a pre-completion search on the property title. The problem here is that as a lease extension has been submitted we've been told by our it may not be possible to do this "priority search" right now as the new lease title number has not been issued. Is it correct that we have to hold on until the new lease is registered?
  • We currently own a two bedroom ground floor purpose built maisonette in Woolacombe 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 69 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. Do you have some advice on this? Should I contact the landlord first and will they be able to give me a cost?
  • I have sixety six years remaining on my lease of a ground floor flat in Woolacombe, the Landlord requires a £18k premium for a statutory lease extension of 90yrs. I am looking for advice on whether this amount is reasonable
  • Do you handle lease extensions on land? (a plot of land in Woolacombe with 82yrs remaining)

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