lease extension question

theGrinch

if you have held a lease for longer than 2 years
and wish for an extension can the freeholder
demand any price?

garysletters

In a word ...yes.
however, you can then contest this with them, and they will probably come down a bit.

If you still think it's too steep, you can put the request to the Leasehold valuation tribunal who will make a decision on the price.
This is then a final decision and neither side can alter the price.

Be aware you will have to pay for the freeholders legal costs too!!!

theGrinch

garysletters wrote:

In a word ...yes.
however, you can then contest this with them, and they will probably come down a bit.

If you still think it's too steep, you can put the request to the Leasehold valuation tribunal who will make a decision on the price.
This is then a final decision and neither side can alter the price.

Be aware you will have to pay for the freeholders legal costs too!!!

what about the "marriage contract value"...isnt this a standard formulae?