You are reading a single comment by @NickCJ and its replies.
Click here to read the full conversation.
NickCJ-
I knew it coming into the original purchase and I had mentally budgeted £20k, so I was happy even for peace of mind. Googling it brought up many anxiety triggering horror stories. Now I have 180 year lease with decent GR terms so I can just forget about it.
-
Ouch, much more than I would have guessed.
If you've got a lease of more than 80 years and a reasonably chunky ground rent, a lease extension is going to cost a bit because the landlord has to be compensated not only for the deferral of its (entirely hypothetical) right to recover possession of the flat for a further 90 years but also for the loss of rent over the remainder of the term of the lease.
stevo_com
Brommers
Nope, it was the cost of the extension plus fees. It was more than 80 years to start with so marriage value didn't apply.
Still, getting it done properly by a decent solicitor would be worth £500 to me. IMO