Lease Exention

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    Lease Exention

    Hi all,
    I have 2 lease hold BTLs,

    Flat 1 has 80 years remaining and is valued at £100k, 23 years left to run on mortgage
    Flat 2 has 76 years remaining and is valued at £75k, also 23 years to run on loan

    HAs anyone a view on how much a lease extention would cost on the above

    Many Thanks

    #2
    The procedure and valuation of statutory lease extension can be obtained from free download of publications at www.lease-advice.org

    You can calculated the rough cost using the method posted in LZforum thread no. 11080 by our expert sgclacy.

    The cost of lease extension increases for those leases falling below 80 years remaining term so you had better get ready to start on your flat 1 if you have the finances.

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