how to renew/extend leasehold on a flat

funnymonkey

Good evening.
I have a flat on which there is a mortgage and was wondering as my leasehold term reduces over the years how could I extend the term or go for a new leasehold term otherwise when the time comes to sell it would be difficult with a short leasehold
Thank you

Lilla_D

You'll have to approach the freeholder for the cost of extending your lease. If you search on google for calculators to estimate the cost, then you'll get an idea about the ballpark figure to expect. You can try to negotiate with the freeholder, but unless they are way out of what the calculators estimate, you may find it hard to bring the cost down.