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(in fact more generally has anyone bought or sold a leasehold flat with ownership of the freehold attached. How did it work out?)
Current place is share of freehold, but the lease the flat came with was already 900+ years so no need to extend it. Overall it works well. The main burden on the freeholders is annual buildings insurance and ensuring you have a suitable fund for general maintenance works as (at least in our case) we've had to all contribute to some repointing and some other general bits. (The roof was done 10+ years ago and will last for ages as it was done really well.)
I can't imagine the solicitors fees should be heavy at all to extend an existing lease(s) if you own a share of the freehold. Worth getting a quotes to extend one, also all 3 leases, to 999 years and then no-one has to think about it ever again.
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Greenbank
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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?)