My property is leasehold entered from my own front door, do I have the right to purchase the lease?
My son lives in a flat where the ground rent is fixed at £56 (approx) per year, he enquired about purchasing the lease and they came back with £12500 to extend the lease to 125 years and increase the rent reviewing every 25 years, I thought this extortionate, all the flats on the estate are either 1 or 2 bedrooms, all have their own front doors, they are valued at approx £75 to £80 thousand and houses on the estate 3 or 4 beds which are freehold are approx £125 to £140 thousand, does 12.5k seem right?
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