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Confused about share of freehold status

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  • Confused about share of freehold status

    I share a freehold in a block of 3 flats. We have our own limited company of which I am a director. There are 72 years left on my lease. I am looking to sell and a) can not figure out whether I should seek to extend my lease and if so b) whether I need to pay to do so. Of course that then might lead on to the question of how much.

    Any clues?

  • #2
    Re: Confused about share of freehold status

    You should speak to a local surveyor and solicitor on process and prices. the other co-freeholders would need to agree to the extension and its an easy process
    Large mortgages and High Net Worth Mortgages from enness private clients


    • #3
      Re: Confused about share of freehold status

      If all the leases are the same length then all the lessees will in due course want their leases extended to sell. So if they are sensible they will co-operate and vote for the company to grant free lease extensions. You would only then have the legal costs involved.

      For me detail see Shared Freehold Flat Conveyancing
      RICHARD WEBSTERwww.rwco.co.uk
      As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.