lease extention calculator

[sunsetmuz]

Hi this is my first post,would appreciate any help.

I have recieved price of £28,000 to extend my lease.

Also the ground rent jumps to £150 per annum.

The above price is for a new lease of 99 years comencing now.

I know I have a right to a 90 years extention onto the remaining lease of 53 years. ie 143 in total

The lease advisory calculator does not work for leases less than 60 years

The property is worth £250000

The current ground rent is £15 per anum

There is 53 years remaining on the current lease.

Could anyone help me decide if the shorter lease offer is fair

Thanks

[sunsetmuz]

Hi just to add the £250000 is the price of the property with a long lease

[brian]

£28,000 sounds an awful lot of money for a lease extension - see if Justin or one of the other professionals can provide guidance on this one next time they log in.

[sunsetmuz]

Many Thanks

[JustinN]

This is a question for a valuer, rather than a solicitor, I'm afraid. There are valuers who specialise in this sort of work

[Simon Seaton]

A list a specialist valuers can be found at the LEASE website.