LEASE EXTENSION

How is the pricing calculated?
The Freeholder calculates the prices of Freehold sales and Lease extensions based on:

·  The current ground rent paid

·  The current duration left of the lease

·  The price of a property,  based on the current market value using www.ourproperty.co.uk

·  A yield for the term and reversion

What is the period of the Lease Extension?
All prices for Lease Extension are based on extensions to a maximum of 150 years from the current commencement date of the lease.  For example, if your lease is for 99 years then 51 years would be added to the exisiting lease to bring it to a maximum of 150 years.

Is it possible to negotiate the price of extending my lease?
We are happy to negotiate. However a property valuation would be required and this would incur extra cost, as all of our prices are based on extending the lease to 150 years.

Do I require my own solicitor?
It is entirely down to you as an individual if you wish to involve your own solicitor, but it is not a requirement.