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Kuztardd
Kuztardd Posts: 153 Forumite
Part of the Furniture 10 Posts Name Dropper Combo Breaker
edited 26 February 2010 at 2:59PM in House buying, renting & selling
deleted thread
--- Meh ---

Comments

  • **Upsy_Daisy**
    **Upsy_Daisy** Posts: 256 Forumite
    edited 5 January 2010 at 3:16PM
    Yes you can - e.g. ask for 30 years - shortening the extension may have little impact on reducing the "marriage value" though it's based on the value between your 78 year lease and a marketable lease - once you get the lease over 95 years the value is roughly the same as whether it's 95 years or 125 years
    May be more sellable with a 168 year lease i.e if you go fo the full 90 year extension

    UD
    Total debt at 01/01/2010 £34,262 (Excludes mega mortgage) Daily interest £12.42
    02/10 Now £3.12 due to repayments, BT and :money:
    Olympic challenge £5081/£28,000 (18.15%)
    Aim to lose 35 lbs from 01/01/2010 to 30/06/10 9.5/35
    1 debt in 100 days £2886/£3839
  • Doozergirl
    Doozergirl Posts: 34,082 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Yes you can have it extended to 99 years if the freeholder agrees but as said above, the price difference isn't all that discernable.
    Everything that is supposed to be in heaven is already here on earth.
  • Because there is little difference in value in the market between a 99 year lease and a 168 year one going for a shorter extension is not likely to reduce the cost much. Agreeing a significantly increased ground rent is more likely to bring the premium payable down because the freeholder has the continuing benefit of the higher rent. If you are selling and don't care about how much you will have to pay in the future, the trick is to go for the maximum rent that you thnk a buyer will accept without being put off.
    RICHARD WEBSTER

    As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.
  • Go on - tell us the original price you were given?
    Total debt at 01/01/2010 £34,262 (Excludes mega mortgage) Daily interest £12.42
    02/10 Now £3.12 due to repayments, BT and :money:
    Olympic challenge £5081/£28,000 (18.15%)
    Aim to lose 35 lbs from 01/01/2010 to 30/06/10 9.5/35
    1 debt in 100 days £2886/£3839
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Have you used the lease extension calculator on the LEASE website to see if the £10K was justified?
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
  • Fire_Fox
    Fire_Fox Posts: 26,026 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Declutterbug-in-progress.⭐️⭐️⭐️ ⭐️⭐️
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