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In a share of freehold with questions about lease extension
I'd completed purchase of a flat 8 months ago in London as part of a share-of-freehold that includes the other three flats in my building and myself.
The length of time remaining on my lease is 88 years. One of the share of freehold is in the process of selling their flat now.
It's been 8 months since I completed, so I'm under the two years of ownership required to begin a leasehold extension.
According to the 'Schedule of notices of leases' document I hold following completion all of the other flats have between 87 and 88 years of lease remaining (the time of their last renewal was quite close together)
A couple of questions:
Can the lease of my single flat be extended on its own, or does it have to be extended in conjunction with all of the other flats? (This would obviously be problematic if the process required convincing the other parties.
What is the typical process and cost of getting a leasehold extension completed under these circumstances?
How might the fact one of the share of the freehold is moving complicate this process?
Are there any other considerations I should take into account in the next 1.5 years before I'm able to consider an extension?
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