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14-01-2012, 06:06 PM
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Extending a Lease on a Flat - Potential uplift?
Evening All
Trust everyone is having a good weekend? Just looking for some advice or pointing in the right direction on the potential uplift in price on extending a lease. I had accepted an offer on my 2 bed flat of £174k and was nearing exchange when they came back with an offer of £168k late in the day becasue they would need to extend the lease. This has put at risk our onward purchase as we need the money for the deposit. I believe the extension on the lease would cost about £9k (74 years left on the lease and ground rent of £80 per year). What I'm trying to do is haggle over the reduction as they are a cash buyer and I need this to go through without losing even more. Does anyone know anyone know if by extending the lease to what I presume would be another 90 years there would be any value increase that I could somehow try to counteract them with? Any help really appreciated. Have a good one. Lloyd 
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