If you own a flat, letting your lease drop too low wipes its value quicker than dodgy stone-cladding. Yet in England and Wales, powerful laws let you extend leases for a fair price.
This guide looks at whether you should extend and how it works.
Legal fees You’ll need to pay your legal fees, plus the freeholder’s reasonable costs and valuation fees. Importantly, this does not include the freeholders’ legal costs for negotiating the price or for dealing with court or First-Tier Tribunal applications. Valuation fees A surveyor will need to visit your home to put a figure on the lease extension.
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