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Extending leasehold on Warner flats

How much does it cost to extend the leasehold on a two bed Warner flat in Walthamstow E17? For example one that has 61 years left or one that still has 113 years left.

Asked on Nov 25 2011, General in London | Report content

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  • Depends on the property value and ground rent. The higher these are the more it costs to renew. There are online calculators which give a rough idea, there's one at which is the government site which has lots of info. Also see the below

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    Answered on Nov 26 2011, Report content
  • Get professional valuation advice right at the start. The freeholder will tell you the figure he wants at a ground rent he would like! To get the best deal you will require good legal and valuation advice! There are two ways you can extend your lease: 1. Deal directly with the freeholder and negotiate a fair price for the extension. There are no exclusions to this if both parties are willing and you can choose any length of lease. 2. Go down the statutory route. The law allows you to extend your lease by 90 years beyond the existing length, with no more ground rent to pay. Qualifying leaseholders must have owned the property for at least two years in order to serve a S42 Notice which starts the process. Whichever way you choose, you need an accurate idea of what a fair price is before you start. The first port of call is a specialist lease extension valuer.

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    Answered on Aug 27 2014, Report content
  • As per other answers it depends on overall value of property - most lease extensions cost less than £20,000.00 and ideally, you should look to negotiate. For more assistance see our long guide linked below.

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    Answered on May 23 2016, Report content

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