How To Extend Your Lease

Extend your leaseThis is probably the one single question I get asked the most frequently- “how do I extend a lease on my property?” The thing with leases is that they can significantly affect the value of a property. The sooner the lease is due to expire, the less the property is worth and the more expensive it can be to extend. Buyers usually look for properties that has a minimum of 95 years; anything below may scare away potential buyers.

Before I conitnue, i’d just like to apologise for the really horrible “extension” analogy of the ladder image. I seriously couldn’t think of anything more suitable :( If anyone has a better suggestion for an image, please let me know. Right, back to business…

A flat with a lease of 100 years is worth roughly the same as a property on a freehold. An apartment on a lease of 60 years, could be valued at approximately 60 per cent of the freehold price. Point being, leases are a big deal.

What is a lease?

A lease simply means the right to occupy a property (usually a flat) for a period, which is generally set at 99 or 125 years. At the end of this time, although you can stay on as a tenant, the freeholder will own your property. For information on freehold and leasehold properties, you can go to my Freehold And Leasehold article.

Here’s a quick guide on how you can extend your lease on your leasehold property.

When Should I consider extending my lease?

If a lease has less than 80 years unexpired when you seek to extend it then as part of the price you will have to pay what is known as a marriage value to the freeholder. This could be significant. It is a key reason why you should consider extending sooner rather than later.

You may encounter difficulties if you want to sell your flat if the unexpired term is less than is regarded as mortgagable by most lenders. Different lenders have different criteria but they are generally looking for an unexpired term of at least 60 years.

1) Check your lease

The lease runs from the date it was drawn up, not when it was purchased and not the date when the lease was granted. For example, a 99 year lease that was purchased in 2005, 15 years after the lease was actually drawn up (1990), will expire in 2089 – leaving 82 years to run.

2) Check Eligibility

You can only extend a lease for a property that you have own for at least 2 years; you have a right to extend your lease for an additional 90 years at a peppercorn (zero) ground rent. It doesn’t matter if you haven’t been in occupation. The original lease needs to be long (over 21 years) and it should be residential, as opposed to commercial use.

The law is that you cannot compel a lease extension until you have owned the proeprty for 2 years but that doesn’t stop the freeholder agreeing to give you one in the meantime – but if the landlord is canny (or an ass, depends which way you looka t it), he/she will ask a bit more to reflect the fact that you do not have a right to require it!

However, there are exceptions. You can’t force the freeholder to extend a lease if:

  • The majority of the leaseholders have applied to obtain the freehold
  • Your lease has already ended
  • You have sublet your home on a lease of at least 21 years
  • The lease was originally granted for less than 21 years
  • The freeholder is a charitable housing trust, the National Trust, the Crown (although they may agree), or the property is in a cathedral precinct
  • If your freeholder wants to demolish or redevelop the property (in which case you would be entitled to compensation).
3) Solicitor instruction

After insuring that you are eligible for getting an extension, you should contact a solicitor. A solicitor will handle all the legal documentations for extending your lease. The solicitor will start the process by serving an Initial Notice on the landlord, which will offer a premium for the lease extension. Some of the stages in the process of extending a lease have strict time limits. It is very important to instruct a solicitor who is familiar with the legislation. It’s best to get a recommended solicitor that has a strong history in this specific field. Alternatively, contact the Law Society for a recommendation and get a written quote first.

4) Valuation of lease extention

Firstly, a valuer, usually a chartered surveyor, is needed to put a value on the lease extension. I say “needed” because it would be extremely unwise not to have a valuer specialising in this field. He/she will use the valuation formula in the Leasehold Reform Housing and Urban Development Act 1993, as amended. Contact the Royal Institution of Chartered Surveyors for a list of local surveyors who specialise in lease extensions. It’s best to get a quote in writing first.

Most surveyors will charge a fixed fee to prepare the report. This fee should cover the initial inspection of the property, reading the lease and making all the calculations.

There are extra charges if the surveyor is asked to negotiate with the landlord or their agent or for any further work required if the valuation cannot be agreed.

5) Dealing with the freeholder

The owner of the freehold will be given a minimum of two months in which to respond to an offer and if he/she does not, then action can be taken by applying to the County Court for an order that the lease extension be granted on the same terms set out in the initial notice.

Usually the Counter Notice is served in time and a period of negotiation follows between the parties or their respective surveyors.

You should also remember that whilst the law will ultimately be on your side when extending a lease, if a freeholder wants to be difficult he/she can drag the whole process out for ages. The freeholder can still suggest a high figure on the basis that it will take you quite a bit of time and money to challenge it.

6) Valuation Problems

If an agreement is not made on the valuation then the deal could end up in the Leasehold Valuation Tribuna. However, that is quite unusual.

An application to the Leasehold Valuation Tribunal must be made by the flat owner (i.e. the lessee) no later than six months from receipt of a valid counter notice, failing which, if the premium cannot be agreed within the six month window, the initial notice is deemed withdrawn. This means that the lessee will have to pay the landlord’s reasonable legal and surveyor’s fees in addition to his/her own costs and wait for a further 12 months before being able to make a fresh claim under the Act.

This will be costly for the lessee, especially if waiting a year results in the lease term dropping below 80 years! If the applicant meets the criteria by law the freeholder cannot prevent extention of the lease.

Once the Initial Notice is served on the freeholder, then the applicant will be responsible for the reasonable valuation and conveyancing costs. The Notice is also important in setting the valuation date.

7) Further Entitlements

Under the Act the applicant is entitled to a further 90 years on your lease with no ground rent payable on the original term or extension– that is incorporated within the cost of extending. However, there will still be a service charge under the terms of the lease.

8.) How Much Will It Cost?

How much the extension is worth and calculating how much you will have to pay is difficult to estimate accurately. The value consists of three main amounts. The first two are to compensate the landlord, for loss of ground rent during the rest of the existing term of the lease, and for not receiving possession of the property at the end of the term.

Thirdly, as already mentioned, where the lease has less than 80 years to go, there is what’s known as a ‘marriage value’, which is arrived at by deducting the value of the property before the extension from the value afterwards, plus the value of the landlord’s interest.

The Leasehold Advisory Service gives an example of a flat with a 68 year unexpired lease, on a ground rent of £50 pa, with a current value of £150k, and an improved value £165k. An extension of 90 years is likely to cost £8,250. But the same property, on a lease with only 35 years to run, could set you back a whopping £55,368. However, if the current lease is 95 years (and, therefore, attracts no ‘marriage value’) the cost of an extension would be only around £734.

It’s important to note that the leaseholder is liable for both parties’ legal and valuation costs, unless the matter ends up at the Leasehold Advisory Service, who may apportion the costs differently.

Although it may be an expensive business, remember that you are adding value to your property, and, in addition, you will no longer have to pay ground rent.

9) How Long Does it Take

Subject to how efficient you are, plus your freeholder, his solicitor, your solicitor and your surveyor, this whole process could take from 3 -12 months – unless of course it lands up in court because you cannot agree values. However, there are legal timelines in place to prevent the process from dragging on.

Please note

This is just a rough guideline to the process of extending a lease; each case may vary depending on individual circumstances. On that note, Happy lease extending, people…

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82 Comments- join the conversation...

Showing 32 - 82 comments (out of 82)
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sam 30th July, 2010 @ 08:29

Hi, my name is Sam,
I am looking for help before I go into something I’m sure of.
I am a first time buyer; I found this one bed flat with a reasonable price, share of freehold, with 73 years lease remaining.
Does anyone know how I can go about extend the lease before accepting it? Who am I to speak to? And who would I pay to?
Any help will be appreciated
Thank you.

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Chris 30th July, 2010 @ 22:55

Hi Sam

I have been through a similar lease problem when we were about to purchase a house, what you have to do is, you have to get the vendor to apply for an extension on the lease because you cannot do this, as you have to own the property for 2 years before you can apply for this. They in turn will receive a sum for what this will cost you from the freeholder. Some freeholder will not extend the lease but ask you to buy the freehold, which can be quite expensive. Your solicitor will complete all the paperwork for you (at a fee of course) and if you decide to buy the freehold, the solicitor will then transfer this into your name on completion of purchase of property.

Your first port of call would be your estate agent telling them that you would like the vendor to apply for an extension on the lease. Once they have come back to you with the amount you will need to pay, then you can decide whether or not it is worth purchasing the property. You may also be able to use this as a bargaining tool with the vendor, saying you will proceed with the purchase on the condition "they extend the lease", it depends on how eager they are to sell as to whether they will agree to this. This however; did not work in our favour and the vendor refused to pay for the freehold and we were going to have to pay ourselves if we wanted it. Hope this has been on help to you.

Chris

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Sam 31st July, 2010 @ 11:04

Hi Chris
Thank you so much for this informations, now I know what to do.
Sam

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jackjack 9th September, 2010 @ 08:25

Hi all: I Have a freehold a am selling with 4 flats ground rent is £300pa each 89 lease on all flat remaining in a very good post cord in london ground rent ups 23years time to £500pa with a management charge of £1000Pa for all 4 flats what is this worth??? Thank you.

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mokrane 27th November, 2010 @ 19:39

I own a leasehold house,my free holder gonne missing

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Lynn 2nd December, 2010 @ 19:27

Can someone advise us on how much we can expect to pay for a lease extension on a property with only 39 yrs remaining. The property is valued at 65k without the extension and 75k with it.
Thanks

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Amanda 2nd December, 2010 @ 21:00

Hi Lynn, not sure if this is of any help for you but we are in the process of extending our lease. We have 79 years left, and the property is valued at 165K, it is costing us roughly 12K (with lawyer fees inclusive.... I'm not sure if VAT is included)

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Russel 3rd February, 2011 @ 22:43

Hi,

I need some advice. I want to buy a flat which has only 28 years left on the lease. Current value is £85000. How much would it cost me to renew a lease after I owned it for 2 years. Is it worth to buy a flat like that? Will I get in lots of trouble to renew a lease?It is an investment for me. Thanks for your help. Russel

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louise 16th February, 2011 @ 18:27

Is 962 years left on a 999 lease good?
Thanks,

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Wendy 22nd March, 2011 @ 09:31

We are looking to sell our flat in London and wanting to buy a house. Our current lease has 69 years left on it, so we are looking to extend. We have wrote to the management company and their solictiors have returned a letter to us quoting us £2,500 to get a full valuation done before they can tell us how much it will actually cost to extend the lease.

Is there any way of lowering this cost? especially when the local agents are predicting around £10,000-£15,000 to actually extend the lease.

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Charlotte 11th April, 2011 @ 15:24

I put in an offer for 120k for a 1 bed flat it West Sussex but just before exchanging I've found out that the remaining lease is only 75 years and not 84 as I had been told by estate agents. The Freeholder has said that they're willing to agree to extend the lease in prinicple but not until it has 70 years remaining and they would look to extend all the flats at the same time. This could make it very difficult for me to sell in 3-4 years time. Can they refuse to extend it until then? I have no idea how much it would cost to extend the lease; would it work out cheaper if they were extending them all together? Many thanks for any advice offered.

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Corrine 15th May, 2011 @ 08:57

I live in a flat that has 72 years left on the 99 year lease. I am wanting to sell the flat in the next few years. I pay £10 a year to the freeholder. The property has been valued at £150.
How much would I be expected to pay on top of the £1,690 that would be paid to compensate for the loss of £10 a year?
Any idea the cost of surveyors fees for a valuation?

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Steve 18th May, 2011 @ 12:27

I own a flat and am looking to sell it.

It has 79 years left on the lease and I have had a viewing and they have asked how much it would cost to extend the lease.

I have asked the freeholder how much it will cost and he is getting back to me - I just wanted to know if anyone had a rough idea how much I am looking at?

The current value of my flat is £140k....

would really appreciate any help

Thanks
Steve

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John Neighbour 8th June, 2011 @ 18:28

I have 69 years on our lease and i would like to know how much it would cost to extend the leas to 99 years or 125 years.
Would it be wise to contact the freeholder first and discuss with them first? Then contact the solictor/surveyor
We would like to sell our property in 4 years.

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Charlotte 14th June, 2011 @ 13:52

Hi,

I am buying a property at the moment, it is leashold, but myself and the other flat own a share of the freehold.

Our lease is 87 years and I was wondering, what is the process to renew it? How much does it generally cost in these situations, if say we wanted to extend it back to 99 years, or to 125 years?

Thanks

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Corrine 16th June, 2011 @ 20:26

Hi,
I posted 4 posts up. I have decided that I need to extend my lease and have started the process so this info may be of help to someone. I paid £240 to have a surveyor to come and value the flat for the lease extension purposes. He then gave me the lowest considered settlement of £5,650 and the highest premium for extending the lease of £6,450. He suggested that he offered the freeholder the lowest ammount. (I have 72 years left on the lease and the extension would add another 90 years to this. I pay £10 a year peppercorn rent and the flat was valued by an estate agent at £150,000)
Should the freeholder agree to this, it will have to go to her solicitor and I will also have to get a solicitor who will have to change the lease. I have been quoted £600 + VAT for my solicitor to sort the lease out and as i am extending the lease, I will also have to pay the costs of her surveyors doing a valuation and working out their estimation of what premium i would have to pay (exactly the same as my surveyors have done, so it may cost another £600+ depending on how much her surveyors charge. if she does not agree to my offer, I will then have to pay a further £200 for the surveyor to pass on information to my solicitor to try and come to an agreement.
Its all so expensive - I wish I'd been advised by the bank years ago that I should be extending the lease before 80 years left were up and then I wouldnt have to pay this 'marriage value' I have been strongly advised though to extend the lease now as leaving it will be a lot more expensive in the long run.
Hope this has been of some help.

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Corrine 16th June, 2011 @ 20:31

The above post was for prices in the North of England. I imagine that London prices for solicitors etc may be a lot higher. I was also advised to make sure you get someone who has experience in dealing with lease extensions as it can become quite tricky sometimes.

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Jackie 17th July, 2011 @ 10:50

Don't trust solicitors as they NEVER explain all the costs.
I am going through the process of a lease extension and no-one told me that as well as the freeholder's valuation fees I would have to pay their solicitor to draw up a new lease. This has been set at £600 + VAT. Is that reasonable? Also - will there be land registry fees to pay as well?

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Shah 25th August, 2011 @ 05:40

Hi,
I have few questions regarding this topic. I am not a resident of UK, however my father and his brother own a flat in London. 2 of their unmarried elderly sisters live in it.
My father and uncle are named as proprietors in Register Of Title document. The edition date on it is 28.03.2006.
Property Register section dates 12.01.2006 as "lessor's title is registerd", Names of Parties involved and "Term : 125 years from 24 June 2005". All these particulars indicate that the flat was leased in 2005. The flat has been in our possession since early 1990's. My father expired in 1996.
My questions are that
1> how can it have been leased in 2005 with my father's name?
2> in year 2002 i remember my uncle asking me to give him our father's death certificate and succession and heirship certificates but then later he only took a utility bill which was still being issued in my late father's name in our native country. SO can he have got property leased without my father being present at that time?
3>the present lease is joint proprietors (meaning it cannot get transfered to surviving heirs) , however i specifically remmeber my uncles telling me that my father's share needs to be transfered in his wife and kids names. Can he have got the new lease with different type of propritorship?

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sarah 30th August, 2011 @ 08:55

Hi,
i wondered if anyone can shed some light on my particular case & whether i should renew my lease now or wait a few years thus building up some funds from the flats income....

1. My lease was issued in May 1992, worryingly SOLICITORS can't agree as to whether i have 80 or 79 years LEFT, can someone please give me an exact answer?

2. The Freehold is owned by a housing association and although i pay a service charge i DO NOT pay a ground rent, therefore i don't think the "peppercorn rent" scenario applies to me, so in turn does "marriage Value" still apply?

3. taking into consideration the lack of peppercorn rent, if i do have 80 years left, am i still better off renewing now before it goes down to 79 in May?

4. If i have 79 years left, will it make much difference in cost if i leave it until i have say 77 or 76 years left?

I would appreciate any advice, i'm finding it very difficult to get any straight answers from any solicitors & i'm very reluctant to part with any money for surveys until i am sure the solicitor i am instructing knows what they are doing, after all i can't have 79 & 80 years left!

Please help!

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deborah wilson 22nd November, 2011 @ 22:49

What do i need to look for in the surveyors report regarding the lease extension. How do i know if I've got my money's worth?

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Giles 28th December, 2011 @ 17:58

Just seen a studio flat with 11 years lease.
Suicidal move?
Your comments are appreciated.

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Jeremy 28th December, 2011 @ 21:33

Hello Giles,

It depends. The most important factor is the asking price. The rather opaque rules on marriage value, which kick in when the flat's got under 80 years remaining on the lease effectively give the freeholder a share of the value of the flat. The forumla is very complex, but use a rule of thumb of them owning 69/80ths and you owning 11/80ths. Or about 12.5% of the market value of an equivelent flat with a long lease.

So my rule of thumb would say if the flat is on offer for around 12% of normal market value then I might be interested. I'd have two choices:
1 - Rent it out for twelve years and then say goodbye to it. Will you recoup your investment? Many leases I've seen have special clauses applying to the final seven years of the lease. You're obligated to ensure you hand the flat back in a fully decorated and maintained condition. And you may find it hard to recoup the cost of this work back from future rental earnings.
2 - Use Leasehold Enfranchisement to get the lease extended. This won't be cheap. You'll pay the freeholder for their value in your lease and solicitors and surveyors costs for yor AND the freeholder. And you might need to pay their costs to attend a Freehold Valuation Tribunal. In fact with 88% of the market value at stake, I'm pretty sure they'd drag you to the tribunal.

Hope this helps.

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Giles 28th December, 2011 @ 22:09

Thanks for this.
In this instance, I think it's safer to buy land without planning permission !

Kind regards

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tim murry 26th March, 2012 @ 13:55

looked at flat with only 53 year lease how much would it cost to exstend lease to 125 years can someone help regards tim

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Jeremy 28th March, 2012 @ 20:51

Hello Tim,

It depends on a number of things, one thing in particular being: Is the flat is in central London? But pencil in 1/6th of the full market value of the flat. If the figures stand up as an investment, come back and I'll see if I can help anymore.

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Tom 6th April, 2012 @ 07:37

@Katong. Fortunatelly this discussion is about lease extension not spelling.
@Tim. You need to provide more details. Where is the flat, how much it cost, what is the ground rent etc... No one can really tell you exacly how much the extension would cost but we may be able to give you a rough idea how much that shoule be.

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greg 12th April, 2012 @ 22:04

hi,my mum(79)has a house which turns out to have only 8-9 years left on the lease,she has lived at the house since 1964-5 she pays g/rent of £13 p/year ,i know nothing about the workings of this.
can she extend the lease or buy the free hold,what sort of costings would there be?
any info greatly recieved.i:e who to see and what to ask.

greg

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Jeremy 17th April, 2012 @ 00:44

Hello Greg,

She can certainly extend her lease. I don't see many with so few years left on it. I think it would probably cost something around 90% of the selling price of a comparable flat with an 80-plus years remaining lease.

Sorry, that's probably not what you wanted to hear!

WWW.lease.org used to have a list of chartered surveyors by region who you could ring up for a more informed conversation.

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greg 1st May, 2012 @ 18:16

jeremy,many thanks for your reply,blimey if thats the case that would put it in the £300-£400 thousand pound bracket.something tells me an 80 year old woman MIGHT not be able to get a mortgage LOL.

oh well as said she has 8 years left,just seems a shame that the partys years back never got this sorted,when it was going cheap.

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nicola 31st May, 2012 @ 20:25

hi my gran left me and my antie her house when she passed away it is lease hold with 48 years left on the lease my gran was payin 3000 a year ground rent i ask them how much it was to buy they want 65000 and 5000 pounds costs i cant get a mortgage for that much but want to live in my grans house does this sound like about right i was goin to pay my antie off and then try to buy the lease later this is the only way i can get on propety ladder my family tell me to leave it but we will come away with nothin help x

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Tom 20th July, 2012 @ 13:18

Nicola... That' depending on how much this house will be worth after extension. Is it house of flat. ??? as it is unlikely house would be on a lease. Maybe just put in on auction with reserve and use the money for deposit to get something else. Maybe it''s worthy to get legal support and have the quote checked. It needs to be ligitimate nowadays.

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Costel 21st August, 2012 @ 21:59

Hello
I want to buy I maseonette in Northolt in NW of London the property have a lease of 24 years,the price it 90000k in the aria the same property it 155000k worth,can same one tell me please how much will cost me to renew the lease to a 100 years.

Thank you very much

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Jeremy 21st August, 2012 @ 23:35

Hello Costel,

I can't tell you a definate figure, but I have this gut feeling that £90k is way over the odds if the "long lease" equivelent flat is going at £155k. Ring up your local RICS member. They should give you a free ten minute chat to tell you if the asking price is a joke or not.

Hope this helps.

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MBH 10th March, 2013 @ 13:48

hi there
I am intent purchases a flat which has 95 years Lease remaining i am just wondering if i wan to get the full 125 years What DI I HAVE to Do?

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Jeremy 10th March, 2013 @ 15:18

Hello MBH,

There is no such thing as a "full" 125 years. Leases can be for any period. If you want to extend your lease, you have two chices:
- Negotiate directly with your freeholder;
- Use a solicitor to commence "right to extend" legal process.

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Livvyh 18th March, 2013 @ 20:09

Hello, I currently live in a flat that has 66 years remaining on the lease. The value of the flat is roughly £90,000. I contacted the landlord about extending the lease as I am thinking about moving and was quoted £9000. After speaking to another resident in the same block, I discovered that he had been quoted £2000 even though he lives in same value flat with same lease length. Have I got any legal rights to dispute my offer?
Thanks for any help you can give x

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Benji 18th March, 2013 @ 20:55

Livvyh,
If your ground rent is about £100 pa then £9000 is about right using this calculator;

http://www.lease-advice.org/calculator/

So if the other resident is paying the same ground rent and everything else is the same, they have a bargain. You could use this as a basis for haggling.

As for your legal rights, read through this;

http://www.lease-advice.org/

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Alisha 16th April, 2013 @ 11:13

Hello,looked at flat with only 54 year lease left. Asking price is 155K with ground rent 127 per year. Flats of such type usually cost 200K with good lease period left. Is spending 155K on such property advisable? How much would it cost to extend lease to 90 years? Can someone help? I was told I cannot contact freeholder now and its upto freeholder's discretion after 2 years of purchase when I actually request for lease extension. Appreciate your advise. Rgds Alisha

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ben 18th April, 2013 @ 20:33

Hi I have a studio flat in sutton lease has 72 years left on it an want to extend it to 99 years ground rent 70pound how muchdo u think it will cost to renew I was thinking bout 4 thousand

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Kerry 8th May, 2013 @ 16:06

Hi I hope someone can help me. We bough or flat 8 years ago for £98,000 and now I want to sell its a ground floor flat with two bedrooms and its been valued between £90.000 and £99,000 and we prob wont even get that anyways I have just asked if I can extend the lease hold as it only has 53 years left on lease hold and I have been giving the price of £10,518.30 and well I think this is just crazy and now in going to ask how much it's is to buy the lease hold I was just wondering can they just ask u for any amount as I think this is a lot of money to be asking for as our ground rent is only £20 a year. Thanks Kerry

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rojer 26th September, 2013 @ 21:38

Hello I need help I am buying commercial property lease and the lease has only two and half years left and the lease is open lease kindly tell is worth buying it after the two and half lease can i get new lease or what will happen kindly help me

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Alison 10th October, 2013 @ 11:53

Hi, I need advice please. I have been trying to sell my maisonette with 71 years left on the lease. Potential buyers want to know what the cost to extend the lease will be before proceeding with any purchase. However, the landlord won't negotiate on a lease renewal and won't renew an individual lease until the amenity land lease is renewed first. The problem is that there is no record of an amenity land lease at the land registry. He has told the management company solicitors that unless the costs to renew the amenity land lease are released he will just allow the individual leases to run down. Is he allowed to do this. If I serve a notice on him for a lease renewal is he obliged to renew my lease regardless of the amenity land lease situation?

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Tim Baskett 23rd October, 2013 @ 11:37

Hi,

I own a flat in block of 4 to which the flat owners apparently own a share each in the freehold.

My lease has about 78 years remaining and I wanted to extend as in the summer I want to sell and wanted to make the flat as appealing as possible.

In my efforts to extend the 3 other owners weren't interested, can I do this alone and is there any way I can double check that I do own part of freehold. I have a share certificate and when I bought the flat the solicitor wasn't great hence my concern.

Any help or advice would be great.

Thanks,
Tim

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Phil 21st February, 2014 @ 10:07

Thanks for the information! You know, purchasing a property with a leasehold contract requires careful examination of the terms. As they differ greatly. As a rule, buyers of a leasehold property search for properties that have a minimum of 95 years. But verifying how much you will pay for a lease extension is rather difficult to estimate. I know that in general, the process takes between three up to twelve months depending on the efficiency of your solicitors and some other advisors.

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Lee 21st March, 2014 @ 15:59

New to this - so thanks for taking the time to review.
Just had property valued by estate agent at £175k, was going to sell, until I found out lease only has 56 years left!
Am really struggling as to what if anything I can do, as I can't afford to renew lease, and feel like I'm pretty much stuck there..
Are there any options at all here?

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deena 3rd April, 2014 @ 21:03

Help! my solicitors did a dirty and refuses to look at my draft lease that was issued by my landlors solicitors. Mr ajay pau in kingsbury let me down and did a dirty last minute brfore the deadline on completing the draft lease. will the new draft be any different form old? what do i have to fill in this new lease?
can i do it myself.,
DO NOT TRUST this Ajay pau. he purposly let me down last minute so i have no one to help me.Is it easy to fil in draft lease issued?

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Vitto 4th April, 2014 @ 22:10

Hi I'm about to buy a flat which has 16 years left to the lease,they are other flats in the same building which their leases expires in 2120,I wanted to know if I can extend the lease by been in the same building?and how much would it cost?
Flat value 30.000
Thank you

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Lynsey 4th May, 2014 @ 18:59

Hi. I'm looking at buying a lower ground floor flat in Herne Bay. The asking price is £105k. The ground rent is £50 annually, and the service charge is £20 a month, so £240 annually. The lease runs 99 years from 1990, so has 75 years remaining. Would it be reasonable to, should I decide to purchase the property, ask the vendor to extend the lease as a condition of my purchase?

80
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tony 13th May, 2014 @ 07:50

Hi, I own a ground floor flat but only lease hold which is currently at 71 years what is best way to increase this?. We have recently found out that that the freeholder who lives in flat above has sold his flat and wants to offer us the free hold how would this benefit me?

Kind Regards Tony

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