Lease extension

[Robzon]

Hi

just a query

im in the middle of buying a flat with :

97 years left
£202000
groubd rent 200 - reviewed every 10 years I’ve RPI

bext review is 2032

as I don’t know how long I’m going to be in the flat for and I’m I’m aware of the 250 threshold as it’s out of London

I was thinking of getting an lease extension at year 94

does anyone have an estimate of how much that would cost?

thank you

ooof!

get one way before then! I’d get one now tbh

Try the leasehold advisory service website, it has a calculator I believe.

We extended a lease 6 years ago on a flat that sold for 200k but with a much shorter lease and it cost us 25k I think. Our freeholder is known to be a dick though. I would imagine yours will be considerably less as you haven’t gone down to 80 years.

How come ? What would be your reason to get it done now?

What was your ground rent and increase?

How many years did you have left?

I think it was around 60ishyears. Ground rent was 80 a year. We did a formal extension to add 90 years and effectively get rid of the ground rent.