Residential Lease

Loosehead | 15:51 Mon 03rd Apr 2006 | Business & Finance

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I posted this Q in "How it works" may have more luck here:

http://www.theanswerbank.co.uk/How-it-Works/Question217142.html

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themas

There are laws which require the freeholder to sell a lease extension. Calculation of the price is very complex and usually done by specially experienced surveyors, but basically the shorter the remaining term of the lease the higher the cost. This is because the property does revert to the freeholder if the lease ends and no extension has been negotiated.

If you want more info go to www.lease-advice.org They have booklets etc. on the procedure.

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