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Is it worth extending a 48 yr lease before sale?

I hold a 48 yr leasehold and zoopla offers a price estimate for sale with that length of lease that is £48,000 less than it would be for a 99 yr lease. The freeholder is interested in purchasing the lease, would that be a good option?

Asked on Feb 10 2014, House Prices in London | Report content

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  • Hello , really depends what it will cost you to get a 90 year extension(which is what you would get if you have owned for 2 years and serve notice to extend). What is the freeholder willing to pay for the lease you have and are you the only lease the freeholder does not have.

    Web reference: http://www.palacegate.com

    Answered on Feb 10 2014, Report content
  • You say "Is it worth extending a 48 yr lease before sale" and "The freeholder is interested in purchasing the lease", so what are you asking? To extend the lease you will have to pay the freeholder for the extension. If you have been resident for over 2 years there is a statutory process to do this, but you will still have to pay the market rate. If you mean the freeholder wishes to buy you out then there is no point in extending it

    Web reference: http://www.lease-advice.org/

    Answered on Feb 11 2014, Report content
  • In order to make the decision you need to work out 1) What the flat is worth with existing lease 2) What it's worth with an extended lease 3) How much you should pay to extend.

    Web reference: http://www.capitalleasehold.co.uk

    Answered on Aug 5 2014, Report content

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