Lease extension: how long to pay premium?

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    Lease extension: how long to pay premium?

    Hi there guys,
    Have embarked on my statutory lease extension and have recently served notice. Now I'm looking at selling a few assets to cover the premium which has yet to be agreed. My question is how quickly do I need to raise this money? Once we agree on a premium how long do I have to pay up?

    Many thanks!

    #2
    Premium is payable on completion. It's up to the parties how soon that is to take place. Either can serve Notices to hurry-up the other.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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