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Frequently Asked Questions
- I own a leasehold house. How much will the freehold cost?
- I want to extend my lease. Are there any additional costs payable other than the price of the lease extension?
- How can I buy the freehold of my building?
- How long can I extend my lease for?
- Why do I have to extend my lease?
- I own a leasehold house. How do I buy the freehold?
- What will it cost to apply to the Leasehold Valuation Tribunal (LVT)?
- What happens if we cannot agree on how much the lease extension should cost?
Frequently Asked Questions
Why do I have to extend my lease?
A lease is a right to use the property for a period of time. As a lease gets shorter the value of the lease decreases and it becomes more expensive to extend the lease. This is why it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on such properties.
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