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Extending my parents’ lease
re14796
Posts: 117 Forumite
My parents are leasehold, the lease is for 90 years but I want to get it extend it. I emailed the company who owe the freehold and they want a 1000 pounds to produce a survey and then they will give me the price to extend. Is this standard practice? How easy is it to buy the freehold?
0
Comments
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Do some initial background reading here:
https://www.lease-advice.org/0 -
My parents are leasehold, the lease is for 90 years but I want to get it extend it. I emailed the company who owe the freehold and they want a 1000 pounds to produce a survey and then they will give me the price to extend. Is this standard practice? How easy is it to buy the freehold?
Tee hee
How much do you think it's worth paying to own the freehold to your parents.0 -
My parents are leasehold, the lease is for 90 years but I want to get it extend it. I emailed the company who owe the freehold and they want a 1000 pounds to produce a survey and then they will give me the price to extend. Is this standard practice? How easy is it to buy the freehold?
This would be an 'informal lease extension'. (There is another approach called a 'statutory lease extension')
With an informal lease extension, your parents would pay £1000, and the freeholder will propose a price and terms.
The price and terms might be reasonable....
.... or the price might be ridiculously high, and the terms might be ridiculously bad. (So the £1000 is wasted.)
See: https://www.lease-advice.org/article/lease-extension-of-leasehold-flats-the-two-routes/0 -
Thanks. Very useful0
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