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My old flat was with a share of the freehold and I extended it whilst living there. Fees weren't outrageous, maybe £500 a flat or something. (EDIT: £350+VAT per flat)
From what I remember mortgage lenders did care, you might have a share of the freehold but there's no guarantee that all freeholders are going to agree to an extension and that share of the freehold is usually of the whole property, not just your flat. (Although 91 years wouldn't be an issue.)
I was in a share of freehold flat for ten years (two flats in a house, me and the other flat owned the freehold). Had no problems and meant that I could do a loft conversion with minimal issues. A few extra forms to be completed on sale and purchase and responsible for the buildings insurance but that was about it.
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aggi
Anyone know anything about whether you should extend leases when you buy a share of the freehold?
One of the leaseholders wants to extend theirs from 91 to 999 years, and has been told by a solicitor we should have done this on day 1 for tax reasons. The third leaseholder is saying it's completely pointless and a waste of (fairly hefty) solicitor fees as future mortgage lenders won't care about a short lease length if the freehold is also included. Thoughts?
(in fact more generally has anyone bought or sold a leasehold flat with ownership of the freehold attached. How did it work out?)