You are reading a single comment by @Brun and its replies. Click here to read the full conversation.
  • 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.

  • A regular lease extension doesn't deprive the freeholder of ground rent. That's only the case if it's via a section 42 notice.

    I was initially quoted £13k for mine with 89 years remaining (not section 42) but a chartered surveyor (£720) seemed to have no problems negotiating that down to £6k. Solicitors fee was £1k.

  • That chartered surveyor, are they London based? Our lease is down to 90 years so me and oop stairs neighbour going to buy the freehold from rubbish giant housing association

About

Avatar for Brun @Brun started