Common questions relating to Yate Lease Extensions
Me and my partner have just purchased a three bedroom second floor purpose built flat based inYate and I'm thinking about a lease extension as soon as practicable e.g. after a couple of years
We have seen a house for sale for £185,000 and we are very interested but we've just found out that it is leasehold. There are 928 years balance left 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 guidance would be much appreciated.
I own a maisonnette together with the freehold. My upstairs neighbours have asked for a lease extension what do I need to do?
I'm planning on purchasing a ground floor flat (leasehold) but the freeholder has been missing for about 15yrs. My query is would it be cheaper to try to purchase the freehold or to get a lease extension and apply for right to manage?
I am looking into the costs of carrying out a lease extension for my first floor flat in Yate, and would like some figures on that.
I'm looking for a flat to purchase in Yate and I'm not really familiar with the leasehold concept. I've found a studio flat I like with a 91 years lease. My research reveals that I can apply for a lease extension after a couple of years, but:- Should I anticipate any issue with my proposed mortgage lender Platform Home Loans Ltd?
Offer accepted on a a garden flat in Yate, were told numerous times by the EA that the lease was in excess of 100 years, we have just had our mortgage offer in writing through the post which states the lease as eighty years.Contracts were due to be exchanged in a couple of days. My query is Should I tell the seller that I will only proceed with the purchase (at the same price) on the condition they carry out a lease extension?
My (separately handling my lease extension) said I need a licence to alter given that I wish to carry out a loft extension to my property. Is this strictly required given that I have a share of the freehold. I've informally discussed the loft conversion with my co-freeholder some time ago and he had no objection once I reassured him that if my builder damages the roof I won't expect the co-freeholder to pay for future repairs to the roof. Assuming I need formal consent should I get the licence to alter and then start the lease extension process?
My wife and I are hoping to buy a property (a one bedroom apartment inYate with share of freehold). During our search, we were always looking at flats that had a minimum 83 years left. We found a apartment we fell in love with and the estate agent assured that the lease was long albeit not specifying a number. This morning our advised us the lease only has 74 years and thus needs a lease extension. Do we walk away, or should we reduce our offer?
I know that others in the same building previously had a lease extension, and the freeholder seemed reasonable. It therefore appears worth taking risk of avoiding a formal valuation and calculate the initial offer on previous premiums paid . This would save on double valuation fees. Is this advisable?
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