Question on Extending leases

snoopyorcharlie?

:eek:
Wonder if someone can advise on the following please:

• I have a flat with around 95 left years on the lease which I am looking to extend. Advice I am receiving is to leave it to around 80 years before thinking of extending the lease. No particular reason is given for this. My thoughts are extending now will be chaper than when I have fewer years left on the lease! Is this correct or am I missing something here
• can the cost of renewing the lease be off-set against tax if this flat is currently a B2L investment?

Your thoughts welcome. Thank you.

DVardysShadow

I know nothing about leases. But I believe that your lease extension rights are to extend to by 90 years. http://www.lease-advice.org/information/faqs/faq.asp?item=95. The process is expensive, so you would not want to do it too frequently [ie too early] - nor is there much benefit in extending too far.

So there will be an optimum time.

tupe

snoopyorcharlie? wrote: »

:eek:
Wonder if someone can advise on the following please:

• I have a flat with around 95 left years on the lease which I am looking to extend. Advice I am receiving is to leave it to around 80 years before thinking of extending the lease. No particular reason is given for this. My thoughts are extending now will be chaper than when I have fewer years left on the lease! Is this correct or am I missing something here
• can the cost of renewing the lease be off-set against tax if this flat is currently a B2L investment?

Your thoughts welcome. Thank you.

Renewing a lease before it gets to 80 years is a good Idea, contact the managing agent & get the ball rolling they will want you to pay for their surveyor. Then they will tell you how much hopefully it will be a realistic amount of money. Otherwise you will have too pay again for another surveyor to dispute their valuation.