Skip to main content Skip to footer

What is the cost of renew lease of flat in London?

What is the cost to buy the lease for 82J Portland Place, W1B 1NS?

Asked on Dec 7 2012, House Prices in London | Report content

Answers (3)

Was this question useful? Yes 0 No 0

Sort by: Oldest | Recent | Highest rated

  • Hi 4Chickens, I think you are enquiring as to how much it would cost to extend the lease on a property you are already renting in London. Unfortunately for tenants at the moment, this can be reasonably high because of the fact that your landlord will be facing high demand for their properties, and as such can get a good return. Many will look for a fee in the region of £50 to renew the lease of an apartment, however, there may still be some who will do this for nothing without the additional fee. You can find out how much your own landlord will charge by giving them a short call and enquiring about extending the time you will be staying with them. Thanks, Scott

    Answered on Dec 31 2012, Report content
  • If you are extending a lease you could also be a long leaseholder... If you are a qualifying leaseholder a statutory lease extension will add 90 years on to the existing lease and probably never have to address the situation again. Going down the statutory route means there is a timetable that the freeholder has to stick to and recourse to a tribunal to produce a reasonable settlement.

    Answered on Oct 15 2014, Report content
  • A bit of further online research reveals that this flat was entered as an auction lot and was held on short lease as follows: Tenure Leasehold. 99 years from 6th July 1922. Ground rent £50 per annum rising. The seller has served a notice under section 42 of the Leasehold Reform, Housing and Urban Development Act 1993 for a lease extension. The benefit of this will be assigned to the buyer... In these circumstances seek professional advice!

    Answered on Oct 15 2014, Report content

Didn't find what you were looking for? Ask a question

More House Prices in London questions on AskMe

See more AskMe Q&A about House Prices