Many leases were originally granted for terms of 99 or 125 years. The less time left to run on a lease, the less it is worth. You may find it more difficult to sell or raise finance against the lease if the length of time remaining becomes too short.
Subject to certain qualification rules, flat owners have a right to extend the length of their lease by 90 years. The price you pay to the landlord for the lease extension is calculated in accordance with a formula which is set out in set out in the Leasehold Reform, Housing & Urban Development Act 1993. If your lease has less than 80 years left to run, the price you pay becomes more expensive.
Please contact a member of our team if you would like more information or complete an Enquiry Form.
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