Working Out Cost of Lease Extension (57 years)

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    Working Out Cost of Lease Extension (57 years)

    Hi

    I would be grateful if someone could help me work out the likely cost of extending the lease on my property which would be worth approx. £500,000 (market value assuming maximum lease)? I pay £150 ground rent per annum and I have 57 years left on my lease.

    is there a set formula for working this out?

    #2
    You could start with one of the online calculators - such as http://www.moneysavingexpert.com/mor...-lease#howmuch

    Apologies - I just tried it and it doesn't work for leases less than 60 years.
    For 60 years it says £56,000 - £60,000 (appoximately, excuding costs)

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      #3
      You can find a rough calculation method posted on LZforum thread no. 11080.

      Best to consult a local RICS surveyor for market valuation ( used for mortgage borrowing ) .

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