Extending a lease on a flat

[shirleysfc]

Has anyone ever extended a lease on a flat?

 

Our landlord is prepared to listen to offers but we don't know what to offer. We have 76 years left on the lease at the moment and we want to increase it up to 99 years, rather than by 90 years in an ettempt to keep the cost down. We also currently pay £50 per year ground rent.

 

Any (sensible) advice / suggestions appreciated.

[markyboy]

This website link is good as it gives out rough costs on extending leases: http://www.propertyinvestmentproject.co.uk/blog/how-to-extend-your-lease/

We're currently in the situation of having our lease extended to 125 years as it's currently 59 years remaining. Long story shortened, us and our three neighbours in a purpose built block of four maisonette did a deal with the freeholder who wanted to relocate our garage in order to redevelop the flats and parking area behind our maisonettes, by agreeing to have our garages moved for a lease extension. It's been going on for the last 7 years as he had to get planning permission from the council and plans were drawn up, submitted, withdrawn etc, etc, so because of the duration and hassle they've finally agreed to pay the solicitor's fees. It's only now just coming to a conclusion. A friend of mine is also having lease issues so I do empathise. No more leasehold properties for my family! Also, get a good solicitor who doesn't take any crap from landlords.

Good luck