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Thinking of Buying a flat - leasehold expires in 54yrs - advice!!
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Richard_Webster wrote: »Why get yourself the hassle? With only 54 years left the daughter more or less has to get a lease extension. She could arrange it so that you pay her a market price for a long lease and she uses your money to complete the lease extension back to back - if the Freeholder will agree.
The identity of the freeholder could be important. There are some out there who will use prevarication and exploit the statutory lease extension process for all its worth to get as much as possible from you for the extension - this runs up costs for you so you then become desperate to settle. Also, although unlikely, there are some freeholders who are such bad news that if they own the freehold I would advise a buyer not to buy at all!
I've checked the freehold, and it is owned by a leaseholder in the same block. They have received an invite from the freeholder to extend the lease by 145 years for for £20,415. Not sure I like the idea of the freeholder living in, but maybe that's better?!?!0 -
Damn. £415 out on my estimate of the cost, LOL!
It doesn't really matter, in fact, it's probably better for your freeholder to have a genuine interest in the upkeep of the property and not just hear their cash register ringing
Everything that is supposed to be in heaven is already here on earth.
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