Lease extension

tim123456789

CapitalLeasehold wrote: »

Does anyone know roughly what percentage of lease extensions are:

1. done directly with freeholder or their agent - Some - usually freeholder favourable

2. negotiated via the statutory process? - Most - generally fairer.

I'm surprised that you think that

In most cases when I look at a flat which (the age of the property suggests) ought to have a short lease, but it doesn't, I invariably find that the current lease is a new one of 99 years at a modern ground rent, not a 90 year extension at a peppercorn rent

YMMV

Leaseman_2

I suppose it is likely that I will see a higher than representative proportion of statutory cases but I think tim123456789's "invariably" somewhat surprising. Freeholders are often relatively keen to offer an informal settlement, 99 years at a modern ground rent. I suspect that this is for one important reason... It is advantageous for the freeholder to do so when compared to the likely outcome of a statutory application!