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Lease hold extension & estate ageny
mustachio
Posts: 83 Forumite
I am on the verge of placing a bid on a flat. I live in London and as you can imagine it is not cheap. The thing is the flat I am interested in has a 99 year lease. The estate agent states it could cost as 10k. The standard calculator on this website estimates nearer 16k.
The freeholder is a private individual and the service charge is just £75 per year-is it possible to get an accurate estimate? As you can imagine this is the biggest purchase of my lifetime and I don't want to get any nasty surprises.
The freeholder is a private individual and the service charge is just £75 per year-is it possible to get an accurate estimate? As you can imagine this is the biggest purchase of my lifetime and I don't want to get any nasty surprises.
0
Comments
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So you already own a flat??"You were only supposed to blow the bl**dy doors off!!"0
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maninthestreet wrote: »So you already own a flat??
Apologies I phrased a sentence incorrectly and have since corrected it.
Advise greatfully accepted...0 -
I'd be careful and make sure no major works are planned - ie painting the outside or updating the communal parts. £75 pa is really cheap - are you sure it's not £750? You also need to consider a sinking fund. It has a 99 year lease, what's the 10k for? Most mortgage companies will be happy with that.0
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