Extending underlying lease (share of freehold)

[Sasha84]

If you have a share of freehold and have extended the underlying lease, how much did it cost and how long did the process take?

All depends what the other freeholders will want. If they have leases coming up to extend they may do it cheaply or free (you just pay all the legal fees) as they know they will have to do the same first.

If they don't they may want the money and will make you pay the full price.

You have to think of it as 2 different things. You are a leaseholder and a freeholder but they are separate legal things. What you may want as a freeholder all depends on the other freeholders.

I’ve been in this position. Brought it up at AGM others wanted to do this and we instructed the managing agent and lawyers. Just legal fees about £1.5k each. Also there would have been some legal fees with share of feeehold/company hat on not sure how much maybe a few hundred each.

Took a long time unfortunately. Toing and froing between parties getting signatures and then signatures then flats getting permission from respective mortgage companies before submission to land registry.
Maybe 18 months in total.

Thanks everyone

We did it as part of our purchase; I think it added about £250 to the solicitors fees. V straightforward provided the other party(/ies) are happy to go ahead.

@harrylover

In the structure you describe it should be a nominal fee.

Not necessarily. If all the other freeholders have long leases they may want to maximise their investment. It all depends on what the set up is.