87 years left on lease - how much to extend?

Myflat

Hello, can anybody please advise me how much it would cost to extend a lease on a flat which has 87 years remaining? How do I find out - do I pay a solicitor or contact the freeholder myself?

Thanks very much to anybody who can help!

Richard_Webster

You can get a rough figure of what a 90 year extension at a nil gorund rent should cost by using the Leaseextsnsion Calculator at http://www.lease-advice.org/

Are you looking to sell or just curious?

If looking to sell if you have a freeholder from hell then asking for a quote for lease extension encourages them to come up with an over the top figure and you are then effectively obliged to reveal it to the buyer who may be put off.

Also if you are looking to sell in the next year or two a buyer is not usually going to be put off by having an 85 year lease, so it isn't really necessary for a sale at the moment.


On the other hand if you are not selling in the next few years and are just curious then there is no harm in writing to the landlord/freeholder and asking on what terms he would be prepared to extend the lease..

Myflat

Hi, I forgot to mention that I am thinking of buying the flat but am a bit worried in case I end up paying thousands for the lease once I am living there!

timmyt

that is stil a lot of years so the seller is unlikely to contribute....