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Flat Lease Quote
Comments
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Just to add, it was a very different market 11 years ago when you bought(2006-ish - prices were rising, it was just before the crash). A 74 year lease would not have caused any major concerns. I seem to remember 65-70 being more of a concern back then. Nowadays people panic if there's less than 85-ish and want to extend!2024 wins: *must start comping again!*0
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Very unclear.I do have an official quote I just quoted then figures as rough ones..
I hope you are being more cautious, and better informed, regarding the terms of the lease extension than you were with the original purchase.
Is it 'official' in that the freeholder has made you a formal offer? Or 'official' in that you've followed the statutory process?
What does the £11,200 give you?
An extra 5 years added to the lease?
An extra 36 years taking it to 99 years?
A brand new lease? If so, what length? 99 years? 999 years?
If new lease, what is the ground rent? Other changes to the terms?
Do you fully understand the package?0 -
I do have a full breakdown of what the quote consists of which I have forwarded to the estate agents...
And we received an offer on the flat this morning
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