Extending leasehold

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    Extending leasehold

    Hi, I am about to start looking into extending the leasehold of our flat. There are currently around 84 years left on the current lease. What is the approximate cost of renewing (I understand this is possibly a how long is a piece of string question) and can anyone recommend any solicitors in the Bolton area or does them being local not really matter? All help much appreciated!

    #2
    Have a look at lease-advice.org

    I believe a calculator can be called up via that site.

    Comment


      #3
      Johnny, here is a link to the calculator highlighted by Tipper: https://www.lease-advice.org/calculator/

      The calculator is only designed to give you an idea and results cannot be used in Tribunal proceedings. However, very helpful as a starting point.

      You might also want to contact local surveyors offering valuations for lease extensions.

      Comment


        #4
        If your application for leasehold extension is not urgent, then you may get some help from Justin Madders MP's 10 minute Bill for leasehold reform.

        https://www.youtube.com/watch?v=RpMZ6tHc1_I

        Comment


          #5
          There is a law firm in Sefton House , Bolton Middlebrook but the reviews for the firm are not good.

          but they quote a fixed price of £1250 + Vat for lease extension. This may or may not be good.

          The name of the firm sounds similar to the name remembered for building the steam locomotive which was put into service on the Stockton- Darlington Railway Line in 1825 .

          Comment


            #6
            Bolton is far but there is a National Landlord Show in London this week on 6th. They do hold the show in different venues. Check the site and see if you can attend the show where there will be plenty of solicitor firms showcasing whom you can get the cost. I got mine from there and they chewed us around £700 inc to extend to 999yrs. Well worth it.

            https://www.landlordinvestmentshow.co.uk/2019-shows

            If you can wait there is one near you next year as below. Register with them for the reminder.


            Midlands - 15th May 2019

            Manchester - 8th October 2019



            Comment


              #7
              Thanks for all of your help. The management company have finally got back to me and quoted:

              Fees required to commence:



              £250.00 irwell valley homes lease extension fee

              £660.00 Lease extension valuation (Scanlons Manchester)



              Total £910.00 inc.



              Once the valuation has been received we will make an offer of a 90 year lease extension to you, legal fees of £500.00 plus VAT plus disbursements is then payable, plus the lease extension premium, prior to completion.

              Does this sound good/bad/indifferent?!

              Comment

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