Lease extension

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Monday 1 March 2004 5.45pm
I want to extend my lease (non ex-council flat) from whatever it is now to the maximum 120 odd years that the freeholder is prepared to extend it to.

I've received a quote for the lease extension incl. legal fees which is quite pricey - does anyone know how the value for a lease exension is calculated?
Tuesday 23 March 2004 6.45pm
Its complicated, but a lot of information about this sort of thing is available on the LEASE web-site. I think you cna find it fairly easily with Google.

Must dash
Monday 19 April 2004 1.36pm

Cheriton is right about LEASE, who are based near Old Street, and are a very useful source of info. You might also try CARL, for direct or indirect advice: I think LEASE have a lot of case histories which would give you a good idea of the kinds of prices and costs associated with extending the lease. If your lease is over 80 [or it might be 90, i can't remember the legislation offhand] years already then you may want to think about buying the Freehold -it might be much cheaper than you think and prof. costs similar. In my experience [limited though it is] you will only really be able to arrive at a sense of the right price by your own research, for which you'll need quite a bit, because professionals directly involved either don't know, have very general ideas, or are very blase and imprecise. Good luck.

Thursday 22 April 2004 11.33am
Does anyone out there have any experience of buying a freehold for a block from Southwark Council?
I've heard that it depends on enough leaseholders within the block getting together - if anyone has been through this process, I'd be really grateful for anything they could pass on.

Monday 3 May 2004 9.56pm
All I know is that you need at least 50% of the flats in the block to be leasehold. I have a feeling I saw quite detailed info about it on the ODPM website but not sure - have a google! Dont know of anyone with direct experience, but my block has now (I think) 11 leaseholders out of 25 and a neighbouring block has the required 50% and have thought about it - so I'll post if anything exciting happens!

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