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Lease extention

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  • Lease extention

    Hi there,

    Someone please help me on this!

    I am on process of buying a 2 bed flat with 72 years lease. According to the landloard freeholder (Company) Informed him that roof will be replaced in less than 2 years time it will cost 20,000 per flat.

    I intend to extend the lease while I'm buying the flat.

    Will it possible and is it possible the increase my morgage for the extention?

    Many thanks.

  • #2
    In the present market you should not be buying the flat without:

    1. The seller arranging and paying for the lease extension for you; and
    2. The price being reduced to take into account the likely cost of the roof repairs.

    If the seller won't agree this, buy something else. There are plenty of flats on the market!
    RICHARD WEBSTERwww.rwco.co.uk
    As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.

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    • #3
      Need your help please

      Thank you very much for your advice.

      22.000 has been reduced from the selling price for the roof repair and to extend the lease.

      But he is not willing to extend it for me. He wants me to get it done by myself.

      Will it be possible to do it while transfering?

      How long will it take.

      Many thanks.

      Withanage

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