Buying individual or collective leasehold extension

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    Buying individual or collective leasehold extension

    I am currently looking to extend my lease and am at negotiation stage with the freeholders surveyor. Would it be worth my while speaking to other leaseholders in the block about a collective extension or would it not make much difference in terms of the premium that would need to be paid for the extension? Thanks!

    #2
    You should ask if others are interested in 90 year lease extension ( to share the professional costs ) or

    collective purchase of the freehold ( better to own the property rather than hold a lease which is only a long term rental agreement) .

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      #3
      Thanks. Sorry i forgot to mention. The property is purpose built. I am under the impression i wouldn't be able to buy the freehold for a purpose built development? Is this right?

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        #4
        Detailed advice can be found here;http://www.lease-advice.org/publicat...nt.asp?item=11
        Based on the information posted, I offer my thoughts.Any action you then take is your liability. While commending individual effort, there is no substitute for a thorough review of documents and facts by paid for professional advisers.

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