Hello everyone.

We are in the process of trying the extend the lease on our flat. To get an idea of how much it would cost, I used some of the online lease extension calculators such as the one on www.lease-advice.org. These calculators came up with a range between £9000-£11000 for adding 90 years on. (The current lease has 78 years left, ground rent £100, and value of flat £250000).

However, when I try more 'sophisticated' calculators such as http://www.tenancy-agreements.co.uk/lease.php that let you enter the yield etc, they come out with significantly higher premiums. This is unless I enter yield values of 8% and above. Do the standard/simple calculators have a high built in yield value? Or is there some other reason for the discrepancy?

I ask because, following their valuation, the landlords have given us an offer of a 99 year lease with ground rent doubling every 25 years. But, this offer is 25% above what the calculators like the ones of lease-advise.org say they the premium should cost for adding 90 years with no ground rent.

Any advice on this would be much appreciated.

Cheers,

Jim

We are in the process of trying the extend the lease on our flat. To get an idea of how much it would cost, I used some of the online lease extension calculators such as the one on www.lease-advice.org. These calculators came up with a range between £9000-£11000 for adding 90 years on. (The current lease has 78 years left, ground rent £100, and value of flat £250000).

However, when I try more 'sophisticated' calculators such as http://www.tenancy-agreements.co.uk/lease.php that let you enter the yield etc, they come out with significantly higher premiums. This is unless I enter yield values of 8% and above. Do the standard/simple calculators have a high built in yield value? Or is there some other reason for the discrepancy?

I ask because, following their valuation, the landlords have given us an offer of a 99 year lease with ground rent doubling every 25 years. But, this offer is 25% above what the calculators like the ones of lease-advise.org say they the premium should cost for adding 90 years with no ground rent.

Any advice on this would be much appreciated.

Cheers,

Jim

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