Property Lease Extension Advice

[citychap26]

Hi,

Looking for advice with reference to extending a lease on a property with 68 years remaining. My friend has been quoted about 20k and the value of the property is about £160k.

Any solicitors or chartered surveyors here?

Cheers

Sunil

[princeperch]

anonymous said:

[redacted]

would it be unmortgageable with only 68 yrs left on the lease?

[citychap26]

Hi, I actually got the figure in correct. It's worth 175k with a bit of work and a lease extention (according to an estate agent). I am lead to believe that the freeholder has given the figure of 20k without knowing the condition of the interior.

Cheers

Sunil

[citychap26]

Hi, Sorry, I have actually now found out that the property has only 66 years remaining. Also it was bought 10 years ago.

Cheers

Sunil