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Edtough
Posts: 124 Forumite
I have 2 rental flats which I intend to pass on to my children when I shuffle off this mortal coil i.e. I have no intention of selling them.
Flat A has 82 yr lease remaining and Flat B has 90 years. I'm aware of the importance of renewing lease before the 80 year mark, so will be renewing that one very soon.
My question is: while I'm at it with a solicitor should I just extend the 90 year flat too. Might I save some admin fees by doing both together? Or, should I hold out another 10 years and renew flat B when it's nearing 80 years, and invest my money elsewhere in the meantime?
Which makes more financial sense?
Flat A has 82 yr lease remaining and Flat B has 90 years. I'm aware of the importance of renewing lease before the 80 year mark, so will be renewing that one very soon.
My question is: while I'm at it with a solicitor should I just extend the 90 year flat too. Might I save some admin fees by doing both together? Or, should I hold out another 10 years and renew flat B when it's nearing 80 years, and invest my money elsewhere in the meantime?
Which makes more financial sense?
0
Comments
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The sooner you extend, the less it usually costs.0
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If you never intend to sell then do it now. If you might sell then hold on as some 1st time buyers will like the lower price and will worry about extending the lease at a later date.0
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