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What is the price of a lease if it has 100 years left, and you want to extend it by a further 90 years, if the freeholder is the council?

The market value is £250k, I know it depends on the freeholder and area, any ideas, what calculation is used and how is it calculated, any specialists and surveyors around, please help me on this, you may give a general guide, as the freeholder is the council, not an individual? Is it also true, you do not pay the ground rent, anymore, if the lease is extended?

Asked on Sep 30 2012, General in London | Report content

Answers (1)

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  • DirectGov have a calculator for this - not sure exactly how it works it out though. If your lease is extended, your ground rent will reduce. I imagine you will always pay 'some' ground rent unless you own the freeholder, but the longer the lease, the less your groundrent will be. If it is 190 years, I'd imagine it would be a tiny amount annually.

    Web reference:

    Answered on Oct 8 2012, Report content

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