The leaseholder’s dilemma – when to extend a lease
It’s day three of Leasehold Made Simple week, and today Leasehold specialist Lauren McKie advises Leaseholders on the process of extending a lease, why a lease extension is in their best interest and when is best to extend.
Good advice not given to Leaseholders now or historically until now!!!
The main financial traps like this crucial 80 year cutoff is not in the Lease yet it is a crucial piece of information that should have been red flagged by professionals at least and should be in the lease small print. No mention of costs in my old lease.
However, the informal route as suggested is not the best way in most cases, unless buying the freehold and then you never know, they might be reasonable.
Leasehold is so complicated that it is unreasonable to expect an ordinary householder to understand it as they have to understand the law itself. Absurd. We need to get rid of it and move into the 21st century like the rest of Europe.
Thank you for query. Lauren has sent you a detailed response via email.