HOW MUCH DOES A LEASE EXTENSION COST ? CALCULATOR PROVIDED!

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Now I have bought my first investment flat I needed to find out how much it was going to cost me to extend the lease! So how much does a lease extension cost and what's involved in the process? Well I did a lot of research for this and I have managed to put together a nice little guide but please also remember this is my first time doing a lease extension!
That said if your looking for the calculator the link to the website is:
www.lease-advice.org/calculator
And I found this a fantastic resource. I also spoke to several lease extension specialist solicitors and they gave really good advice as well! I hope you find this video really useful and see you again on Friday!
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Пікірлер: 27

@chriswelsh4397 2 жыл бұрын

You don’t have to wait 2years to renew the lease ! You can get the seller to serve the section 42 on the freeholder and make it a condition of exchange, once served you can then purchase the property and complete the renewal yourself 😉👍

@InvestwithMarkParham 2 жыл бұрын

Thanks for the info Chris, going to pin this :) !

@florianvandeven4962 Жыл бұрын

What if their is about 29 years left on the lease ? You think it's worth going for it ? Also if the seller serves the section 42 on the freeholder and make it a condition off exchange, is this a way to avoid the marriage value ? As technically he is extending it but then just passing it on to you ???

@chriswelsh4397 Жыл бұрын

@@florianvandeven4962 it’s only worth going for if the numbers stack up, so it’ll need to be cheap. You’ll need to speak to a chartered surveyor that deals with very low leases. No ! Marriage value is on anything lower than 80 years and is based on how much the property is worth as is and then how much it’s worth after renewing the lease, then the landlord will want 50% of the difference.

@wilkii9636 Жыл бұрын

I am trying to buy a flat that has the ground rent issue, (£295 ground rent) and the freeholder isn’t responding to the deed of variation, There’s 245 years left on the lease, can we get the current leaseholder to issue this notice?

@danieledwards3318 2 жыл бұрын

Yet another terrific video. Well done Mark

@dannymurphy1779 2 жыл бұрын

a most concise explanation Mark!

@fj_castillo 2 жыл бұрын

great vid thanks for the info, subscribed

@mattclark7634 2 жыл бұрын

that link was great thank you!!

@jamesbrown7 2 жыл бұрын

Loving this community that you’re creating , some sound info from Chris on the comments too. What’s the plan for the flats? SA looks a interesting proposition

@Burning_desire22 2 жыл бұрын

Great video I feel flats are easier to add value too, great for new investors to get into and less competitive when buying, could be hard to resell at a later however. I might give this a try. One advice I can give you is go for ground floor flats with garden and you can extend 😀

@philippayne8901 8 ай бұрын

You needed to explain where the £6000 came from. On my phone, I can't read the small text from the screenshot presented.

@OO-ex5iq 3 ай бұрын

The only I concern I have is how much extra value is going to be added if you extend the lease because I don't believe there's real way you can work that out unless of course you know

@man_sanma Жыл бұрын

Hi Mark - I think you mentioned you'd be making videos of your experience with the lease extension but can't find them in your channel. Will you be making them soon?

@mattclark7634 2 жыл бұрын

Hi Mark my two years is up on the 20th of this month, i did not non statory route but freeholder tried to put lots clauses in and wanted over 15k. so had to wait the two years, i own it outright and want pull money out to go again. i got 68 years left and should be 11-12k for an extra 90 years

@trevbeats77 2 жыл бұрын

Does it increase the value of my 2-bed room flat? From 74 years to 125 years. I have been in touch with the freeholder and got a price of about 14k plus cost. Some needed advice from you if I can get them to come down in price. If I can't do it myself is it best to get some professional help after I have tried it? Look forward to your reply. Trev

@yousefshokir6481 Ай бұрын

Can I do this if my lease has 980 years left?

@InvestwithMarkParham Ай бұрын

Why would you want too!

@yousefshokir6481 Ай бұрын

@InvestwithMarkParham Because the ground rent on my lease doubles every 10 years....I've been given the chance to change it to RPI but I don't see how that will be any better!