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lease extention calculator

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  • lease extention calculator

    Hi this is my first post,would appreciate any help.

    I have recieved price of £28,000 to extend my lease.

    Also the ground rent jumps to £150 per annum.

    The above price is for a new lease of 99 years comencing now.

    I know I have a right to a 90 years extention onto the remaining lease of 53 years. ie 143 in total

    The lease advisory calculator does not work for leases less than 60 years

    The property is worth £250000

    The current ground rent is £15 per anum

    There is 53 years remaining on the current lease.

    Could anyone help me decide if the shorter lease offer is fair

    Thanks

  • #2
    Re: lease extention calculator

    Hi just to add the £250000 is the price of the property with a long lease

    Comment


    • #3
      Re: lease extention calculator

      £28,000 sounds an awful lot of money for a lease extension - see if Justin or one of the other professionals can provide guidance on this one next time they log in.

      Comment


      • #4
        Re: lease extention calculator

        Many Thanks

        Comment


        • #5
          Re: lease extention calculator

          This is a question for a valuer, rather than a solicitor, I'm afraid. There are valuers who specialise in this sort of work
          This is based on my experience as a conveyancing solicitor in England, but I do not accept liability for information I give in this forum

          Comment


          • #6
            Re: lease extention calculator

            A list a specialist valuers can be found at the LEASE website.
            Fridays Property Lawyers
            Specialists in Leasehold Conveyancing

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