Comments on: Lease Extension

By: David

David — Tue, 06 Jul 2010 07:43:56 +0000

I have applied to extend my lease. I have 62 unexpired years of the 99 years. What would the cost of the extension. The property is valued at £75000.

By: Nick

Nick — Tue, 08 Jun 2010 16:02:52 +0000

For a fair idea, you can estimate by summarizing this way:
It will be compensation for loss of ground rent income to be paid under the current lease, together with the loss of the right to receive the value of the flat at the end of the current lease.
Or in other words, it is the difference between the value of landlord’s interest under the present lease and the value of interest after the grant of new lease with the additional 90 years. Landlord is also entitled to receive a share of marriage value (a hidden value indicating the increase of property’s value as a result of grant of new lease).

By: jo

jo — Sun, 31 Jan 2010 23:52:46 +0000

I have 51 unexpired years on my lease of 99 years, what would be the cost of the extension. The property is valued at £140000.