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Valsm
31-07-2008, 10:19 AM
I have a maisonette, ground floor in a block of four with an exsisting lease term of 29 years. The value of the flat is £140k with lease extended and £70k without. The current ground rent is £5.20 per year. I am wanting to extend the lease to atleast 99 years.
Can you please give me some idea of the cost involved?
Thank you
jeffrey
31-07-2008, 10:46 AM
I have a maisonette, ground floor in a block of four with an exsisting lease term of 29 years. The value of the flat is £140k with lease extended and £70k without. The current ground rent is £5.20 per year. I am wanting to extend the lease to atleast 99 years.
Can you please give me some idea of the cost involved?
Thank you
WHAT? Are you sure that it has only 29 yrs. lease unexpired? How on earth did that happen?
Valsm
31-07-2008, 12:44 PM
I am sure it is 29 years. The property was my fathers and my step mum lives there for her life time. I just wanted to maintain the value of the property
jeffrey
31-07-2008, 13:45 PM
I am sure it is 29 years. The property was my fathers and my step mum lives there for her life time. I just wanted to maintain the value of the property
Perhaps:
a. it was granted as only a shortish lease (say 50 yrs.) at the outset; or
b. they just inherited it from someone who had been there for years. I doubt that it could have been a 99-yr. lease granted 70 yrs. ago.
Valsm
01-08-2008, 08:52 AM
I know my figures. My parents lived there all their married lives and I hold the deeds.
jeffrey
01-08-2008, 09:10 AM
I know my figures. My parents lived there all their married lives and I hold the deeds.
Good. So please answer my post #4: does a or b apply?
Valsm
02-08-2008, 11:02 AM
My father bought the house when it was new 70 years ago with a 99 year lease. I would like to know how much a lease extension should cost me.
jeffrey
03-08-2008, 15:16 PM
My father bought the house when it was new 70 years ago with a 99 year lease. I would like to know how much a lease extension should cost me.
OK. It's just surprising that 99 yr. maisonette leases were being granted as long ago as 1938!
One of the valuation stars of LZ may be along later to provide some figures- inevitably high, because only 29 yrs. left.
malcolmX
05-08-2008, 11:21 AM
Have you checked your Private Messages Valsm ?