lease extention to high !

[jim child]

just got reply from freeholder regarding extending lease of my flat.it had a 99yr lease , now 75yrs remain. they have quoted me £10k plus landlord reasonable legal costs and surveyors costs.making the lease 150yrs unexpired. i think that this estimate is very high. is there anything i can do to reduce this high amount.:confused:

[JayJay]

How much is your property worth and where is it?
The cost of an extension can be negotiable as demonstrated in a couple of the other posts.

[Corinne Tuplin]

Hi Jim,

You can compel the freeholder to sell you a statutory lease extension of a further ninety years in addition to your remaining term on a 'peppercorn rent' (i.e. one pence a year).

The price to be paid is determined by a statutory calculation together with various external factors such as the approximate market value of your flat and the desirability of the location. For more information as to how the lease extension price is calculated, visit the Pro-Leagle website on: http://www.proleagle.com/leaseextension3.htm

If you like, I can provide you with a Lease Extension Valuation Report at a cost of £60.00(inc. VAT).

Regards,

CORINNE TUPLIN
DIRECTOR
PRO-LEAGLE
www.proleagle.com