private rental lease extension help please

JayDeeAyWhy

new father -in-law has a private flat with only 21 yrs left on lease, & is being quoted many tens of thousands of pounds to extend, how do I work out current value on flat (which would be worth about £250k with a full lease) and marriage value / other complicated details to find out what the real cost on this is and if it's even worth doing please anybody ? thank you

Yorkie1

I have a feeling that the lease-advice.org might have calculators or be able to advise.

G_M

http://www.lease-advice.org/wizard/?step=26

http://www.lease-advice.org.uk/calculator/

JayDeeAyWhy

thank you, but unfortunately the calculator on the recommended website is only if there is more than 60 yrs left on the lease. sadly we are down at a meagre 21 yrs left

G_M

Contact lease advice directly?

sooz

Try asking lease. They are very good, but with 21 years left as you can already see it doesn't meet their normal basic calculator criteria. If full value with lease extension is £250000, yes, it will be very expensive to extend.

Try this http://www.tenancy-agreements.co.uk/lease.php or this http://www.fridaysmove.com/lease-extension-calculator/calculator-page-1 , or ask a surveyor.

JayDeeAyWhy

thanks v much & yep I'll contact lease directly. thanks again

Richard_Webster

When leases get down as low as 21 years it becomes more difficult to work out the figures and you simply may have to consult a specialist surveyor.

There are some helpful people on http://www.landlordzone.co.uk/forums/forum.php and they may be able to give you a better idea of the ball park.