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Extension to an existing lease

I own a leasehold flat with 83yrs remaining on the lease. When should I apply for a lease extension and for how long?

Asked on Nov 14 2015, General in Bexhill-on-Sea | Report content

Answers (1)

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  • Leaseholds with less than 70 years to run may be difficult to sell. If you have lived in the property for at least 2 years you have a statutory right to a lease extension. This will give you more leverage over the landlord to agree an extension at a reasonable price. The longer your lease has left to run the less it will cost to extend. So if you have been there two years do it now. See Leasehold Advisory Service: http://www.lease-advice.org/

    Web reference: http://www.lease-advice.org/publications/documents/docume...

    Answered on Nov 16 2015, Report content

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