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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?
I think this depends how the freehold is distributed among the other flats. I'd have thought that if the freehold is owned a third each then two freeholders could potentially outvote teh other one and decide to charge a premium for lease extension. If the freehold is held in trust this view may be more understandable as a trust is unlikely to be a dick for no reason, but I don't think it's reasonable to say that mortgage companies won't care about a short/expired lease. Is it worth having a chat to Lease about it? It feels complex enough that that would be justified.
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ReekBlefs
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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?)