Hi, could you confirm how much the ground rent is per year and how much is the property valued at?
Sorry for the delay. The cost to have a Lease extension of an additional 90 years at a peppercorn rent (ie zero rent) would be between £8,000 to £9,000 and you would also have to pay the Freeholders legal fees (normally around £750 plus VAT).
If you can't agree an actual figure with the Freeholder, you would need to take the advice of a specialist Surveyor who can negotiate on your behalf.
I hope this assists you and sets out the position.
Hi, can I assist you any further? Kind Regards Al