Help! Lifetime lease calculator needed urgently!

Help! Lifetime lease calculator needed urgently!

Author
Discussion

schmokin1

Original Poster:

1,212 posts

211 months

Tuesday 4th August 2015
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Huge argument going on with one of my brothers over trying to sort my parents out with a secure retirement property.

Property is worth 300k approx. monthly rental on open market about 1200 per month and would increase with the market over time. Parents likely to be in the property for 20 years.

Would anyone be able to point me to a calculator or ideally be able to give me a guesstimate of how much a lifetime lease should be.

I need to make sure my folks have enough held back from their estate to buy a lifetime lease to cover themselves, before one of my brothers convinces them to dole out the loot, and then runs off with too much leaving them in the lurch!!

As ever, advance thanks to the fabulous PH financial massive! I just drive things, can't do sums!

Schmo

Cemesis

771 posts

161 months

Tuesday 4th August 2015
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To be safe, I would assume a 5% increase in lease costs per year. Its easy to construct a sheet to do it but to give you an idea, the yearly costs would increase to £1954 by year 10 and £3183 by the end of 20 years. The average is £2083.

Total cost over 20 years is just shy of half a million.