How do you know what you should be paying your landlord for a Lease Extension ? Or, If you a buying a flat, how do you know how much you should discount your offer on a property with a short lease?
Whist there are a number of good lease extension calculators on the web, including the Fridaysmove lease extension calculator the best person to give you professional unbiased advice is a specialist surveyor.
Leasehold owners would be unwise in attempting any lease extension action without early advice from a valuation surveyor, competent in the legislation and with a good knowledge of the local property market.
The importance of good professional advice can not be underestimated in the area of lease extensions. The role of the surveyor in the procedure is as follows:
• to carry out a valuation to assess the lease extension premium
• to advise on the offer to be made to the landlord in the leaseholder's Notice
• to advise on the response to the landlord's Counter-Notice
• to conduct negotiations with the landlord on behalf of the leaseholder
• to provide expert evidence at the Leasehold Valuation Tribunal, if necessary
Notwithstanding the above you can make use of a lease extension calculator to obtain a ball park figure for a lease extension premium.
Fridaysmove can also help you with a Technical Value Report and in serving and responding to the notice. Use our lease extension calculator and get a quote for fees at the same time.