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lease extension questions
Comments
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Thanks Geet,
I feel like I want to extend the lease, because otherwise it compromises the integrity of my buy-to-let. A buy to let is supposed to be a capital asset that increases in time. If I let the lease decrease then I have the opposite!
I have heard the arguments for not extending the lease, which are based on the lease seeing you out, and not having anyone to pass it on to. The other reason I have been told is that the lib dems have a policy to do away with marriage value, which is the majority of the cost of an extension under 80 years.
I think the key is to get a good deal, if the freeholder wants the money they will have to compromise. If you want it cheaper you can take their terms of a shorter extension and increased ground rent. I'm not sure how much more my freeholder would want for adding 90 years and no ground rent as I haven't asked, but I think I prefer a lower premium.
Thanks0
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