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Help with lease on flat

kier333 Posts: 318 Forumite

10 March 2009 at 5:39PM in House buying, renting & selling

I am thinking of purchasing a flat with 74year lease, I understand from the vendor it can be extended by 90yrs for around £5K giving me a 154 yr lease. Question is can i do this as soon as i move in or is it easier to get the vendor to do this and include the cost in the purchase price? It is a 1st floor maisonette, is it possible to buy the freehold of just my flat rather than extending the lease?

How can you work out the cost of the lease, i found a calculator but it wanted a yield etc and to be honest i can not work it out.

Thanks in advance.

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Help with lease on flat

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