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I'm not a lawyer obviously but:
- lease extension figure seems high - I was quoted £24k for informal extension and £16k for formal
- service charge clause may be a can of worms - our service charge was put up to £220 a month in order to create a reserve fund; this would allow your guys to do the same
- ground rent clause is standard - mine follows this format
- suspect legal costs wlil be closer to £4k if pals are anything to go by
- lease extension figure seems high - I was quoted £24k for informal extension and £16k for formal
ReekBlefs
Thanks for that, I'll make sure it's the right one.
This is the letter from the freeholder's solicitors to the current owner in response to their request to renew the lease a year ago. Are these the kind of terms that I need to worry about and avoid, or are they ok?