Lease extension - Reform Housing & Urban Development Act

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    Lease extension - Reform Housing & Urban Development Act

    Hi, I am new to this forum and am asking if anyone can offer help with a lease extension I have been offered under the Reform Housing & Urban Development Act 1993. The freeholder has offerd a 90 year extension and there is a section ( section 61 I think) that allows it to terminate the existing lease in 40 years for redevelopment purposes. Does anyone know if this is "normal" or will this make the flat unmortgageable as I wish to sell it. Any help will be appreciated

    #2
    Its better to post your problem in a new thread.

    The statutory 90 years lease extension will be added to your existing remaining term lease, if say 40 years remaining , after extension will become 130 years lease at Nil ground rent. You can get free advice from the legal advisor at LEASE ( www.lease-advice.org ).

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      #3
      Originally posted by r7bd View Post
      Hi, I am new to this forum and am asking if anyone can offer help with a lease extension I have been offered under the Reform Housing & Urban Development Act 1993. The freeholder has offerd a 90 year extension and there is a section ( section 61 I think) that allows it to terminate the existing lease in 40 years for redevelopment purposes. Does anyone know if this is "normal" or will this make the flat unmortgageable as I wish to sell it. Any help will be appreciated
      I assume your lease must have 41 yrs to run

      Under the 1993 Act the new lease must contain certain provisions. One of those provisions is a statement reserving to the landlord a right to apply to the court at any time during the last 12 months of the existing lease or the first five years of the new lease for possession order on the grounds of redevelopment - pursuant to Section 61 of the 1993 Act.

      In practical terms, a landlord cannot use section 61 of the 1993 Act unless a Court so orders (on its application, at that later time) because the landlord seeks to demolish and reconstruct. Further, the Tenant would be entitled to compensation under Schedule 14 to 1993 Act; paragraph 5 makes compensation equal to the flat's open-market value

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