We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
What happens when the lease on a leasehold property comes to an end?
Options
Comments
-
But what does the leaseholder need to do to secure their statutory extension? I had a very difficult and rude/uncooperative freeholder. I suspect that he would have created all the obstacles possible. Luckily I didn't have to try as I sold up and got a house but I heard of others in my road being quoted large sums to extend their leases.
We think our son's extension lease will be about £10k. I think the shorter the lease, the more the extension costs.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
But what does the leaseholder need to do to secure their statutory extension? I had a very difficult and rude/uncooperative freeholder. I suspect that he would have created all the obstacles possible. Luckily I didn't have to try as I sold up and got a house but I heard of others in my road being quoted large sums to extend their leases.
put the request in in the correct form.
Yes freeholders are sometimes a PITA but the system is in place to make them conform, you just have to follow it.
tim0 -
seven-day-weekend wrote: »So, as in the title...what happens when the lease on such a property reaches its end in 65 years' time?
The tenant can remain as an assured tenant at market rent.
However if anyone has extended the lease, that right is lost - so you simply renew.Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
when the leaseholder ( with no descendants) goes into a retirement home therefore having to pay for it from their own money. .
But by preserving the value of the property, it can be sold and can pay for retirement home care, and at a far better standard than local authority provision..
That free up public money for those not in such a fortunate position...Stop! Think. Read the small print. Trust nothing and assume that it is your responsibility. That way it rarely goes wrong.
Actively hunting down the person who invented the imaginary tenure, "share freehold"; if you can show me one I will produce my daughter's unicorn0 -
Yes. See s.186 of the Local Government and Housing Act 1989 (and its Schedule 10).propertyman wrote: »The tenant can remain as an assured tenant at market rent.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.2K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.2K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.6K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards