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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10550
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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How much would it cost to extend a lease in Slough more

Customer Question

how much would it cost to extend a lease in Slough for 90 more years considering the lease is 70 years left
Submitted: 1 year ago.
Category: Law
Expert:  Aston Lawyer replied 1 year ago.

Hi, could you confirm how much the ground rent is per year and how much is the property valued at?

Customer: replied 1 year ago.
The ground rent is £50.00 and the property is valued at £150,000.00 approx.
Customer: replied 1 year ago.
It is a maisonette 1 bed.
Expert:  Aston Lawyer replied 1 year ago.

Hi,

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.

Kind Regards

Al

Expert:  Aston Lawyer replied 1 year ago.

Hi, can I assist you any further? Kind Regards Al