Can You Always Renew A Leasehold Property?

Can You Always Renew A Leasehold Property?

Navigating leasehold renewals can be complex and confusing. In this video, we break down the key legal aspects of renewing a leasehold property in the UK. Whether you're a first-time buyer or a long-time leaseholder, understand your rights, the potential challenges, and the steps you need to take to secure your home's future. Join us for expert advice and practical tips to help you manage your property effectively. Don't forget to subscribe and hit the bell icon for more property management insights and updates!

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[nuray]

James you are the best property related chanel I must say, you always bring good info to us which is not easy therefore people google but still no proper answer.

[jeremybevan]

Hi James, Funny thing out for the blue I had 4 letters asking if I wanted to extend 4 leases from 68 years to 125 years keeping ground rent as it is. £16, 995 plus their fees on each.. This is well past to top end of values BUT why are they offering this poor deal at the moment? What do they fear that could change things?

[dominicelsbury]

Thanks for the great information, as always very helpful and informative

[fje]

Good information again as always James. I have a beautiful flat in a block of 9, with a lease of 105 years left, but with an extraordinary high ground rent of currently £320.00 per annum which has doubled over the past 16 years - scandalous! I can’t wait for the leasehold reform act to pass! The good news is - All 9 flat owners have established a RTM (Right to manage) limited company 10 years ago and that has halved the previous management company costs. If the bill goes through, I’ll extended the lease for around £5000.00; happy days!

[omar-eva]

Great video thanks. I have a couple of questions:

1. How much does it cost to renew if you have more than 80 years left
2. Once the reform bill comes through, will this push the price of leasehold properties up?

[jonnyworthington]

Question. We're in the process of buying a property with 980 year lease. It's got doubling ground rent issues and a DOV is not being agreed. An indemnity is being pushed in our direction which we don't like.

Ok the other hand we realieed that if we accepted the indemnity and looked to extend from 978 to 999 after 2 years of ownership our ground rent goes to peppercorn.

Yes, it's not really an issue as buyers in current form, but it will potentially become an issue with doubling and trying to sell with indemnity alone.

[SK-hvzn]

There should not be leasehold properties. All should be freehold.

[EZraeel]

Very informative video, grateful for your content. I have two questions if you don’t mind me asking
1- By when do you think we will have a final decision to this bill?
2- I am in process of buying a flat at 79 years and have requested the owner to help me with Section 42, as I want to extend the lease. Did I make the right decision here, or should I have waited for the reform bill? As I am extending the time it takes to buy the property.
3- If you had the choice of extending the lease at 79 years or wait until you hear decision for the reform bill, which direction would you take assuming the freeholder would not be open for negotiations. I am concerns that the bill will not go far, then I must pay more cost let say at 77 years lease compared to 79 years lease. Would like to hear your opinion on this.

Thank you

[teeesther]

Very good content. Thank you very much.

[pmtilbury]

James how do you get the property revalued after extending the lease for the purposes of your limited company assets in the annual accounts please? I have 2 flats with recently extended leases - appreciate your advice thanks

[radhikadharmasiri]

Hi James i got a lease premium of 16995 pounds to be paid to extend my lease to get 90yrs. Currently i have a short lease of 58 yrs left. With the new leasehold reform will my payment be half of 16995 pounds? Thanks

[arran]

Thank you for this informative video, comment for algorithm too xd.

[AAA]

Is the Premium the same as the Capital appreciation cost ?

[Rose-fbqo]

Yes, but what about the 5% deferment rate on ease extensions? If they drop it from 5 to 4% then it will double the cost to extend, therefore making the halving of the lease extension cost irrelevant. Please look into this.

[dumpsterplayer]

sorry if its been asked many times before, but if ihave a lease at 90 years and was to extend, would i only have to pay legal fees or is there some % of propety value i need to pay

[legspin]

Is the reduction in marriage value likely irrespective of the elections? I thought this got kicked out? I’ve been quoted £25k plus fees. Should I wait until the act comes in?

[rezaq]

Been thinking about this recently. I have 61 years left, I’ve been here 20 years. I have no kids no wife no dependents.

Is there any point in extending the lease if there’s no one to leave it to? I’m 46 now, and the youngest of six siblings…..