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Thoughts ? Can't decide if it's a good idea or not.It's my sisters property but we have a monetary interest in it.The main reason is to reduce extortionate service charges which have so far been £1,400 this year. Not sure what the money has been spent on yet but will find out this weekend !The Lease is well over the 80yr threshold deemed to be dodgy. There are 9 other residents wanting to split the cost. Our share would be £5,000 which seems quite high to me ?Thanks ! Any help or advice would be great
Â£5000 for your share of freehold is dirt cheap! Extending the lease to 99yr would cost Â£20000. Strongly recommend buying the freehold. Not many people are as fortunate as you to have neighbours who are willing to buy the freehold.
Go for it. Leases are the work of the devil.
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