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About baz87

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  1. Thanks. Just one thing though, is that to extend it to 90 years or extend it a further 90 years (90 + 63)? I guess the freeholder is in a good position as he knows i can't apply for a renewal until 2 years down the line.
  2. As far as i know the ground rent will remain to be £25 per year.
  3. Thanks for the help. Not sure whether you can give a rough answer to this; What would have the price been to renew the lease had it fallen within the 80 year threshold (as i said a rough guide would be great) based on a value of £150,000 and ground rent of £25 per year. And if possible what would the procedure be to calculate the renewal price with 80+ years lease remaining?
  4. Hi, Im in the process of purchasing a leasehold flat for £125,000. The lease currently has 63 years remaining and the landlord is asking for £17,000 to renew the lease. My bank has said that 63 years isn't a problem regarding getting my mortgage however i realise that when i come to sell the property in 5-10 years time it may be a problem for the person buying the propery. I was just wondering whether anybody could answer the following qustions: 1. Is £17,000 a reasonable amount? 2. Is the £17,000 a fixed non-negoitable fee or is it similar to commercial rents where the t
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