Lease Extensions

[WhiteP]

Does anyone have experience of extending a lease just under 80 years on a flat? We have put in an offer on the flat on the basis that the current owner who has been there for the requisite 2 years gets the ball rolling with the freeholder to extend the lease by 90 years. Have been met with silence on progress and wondering what to do next. Pull out?

it took 3 months to get ours extended and cost 8Ä·...how longs it been?

Thank for sharing Mrs Ladybirdface. Does your message say £8,000? Did it all go smoothly?

It does take a while to get everyone to agree and sign paperwork but should be do-able. I doubt your solicitor would agree to exchange without the lease extension tbh and it is the current owner who will have to do this, whether they sell to you or someone else so don't worry! The silence is because there is nothing new to report to you, not because there is a problem.

We are the ones being chivvied along, but when we ask about whether they've pursued the lease extension informally with the freeholder or through Section 42 it all goes deathly quiet. We believe there is a problem. They've done nothing. We'll find out more today, hopefully.

yes but it all depends on the cost of the flat so our flat was valued at 110 without extending and 120 with so the difference split 50/50 plus legal costs. it wrnt smoothly but we did it prior to selling. Are they actually increasing it or just getting the ball rolling?

We've bought on the basis that the current leaseholder applies to the freeholder as is their right under the 1993 Act, as they've been in for over two years. If/when the freeholder agrees, the right is assigned to us and we carry it on. So, yes. Get the ball rolling.

ok you need to make sure you are aware of the costs as it can costs tens of thousands