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What costs will apply to my lease extension?

You will have to pay your professional costs which will include your surveyor’s costs as well as your conveyancing solicitor’s fees. In very complex cases you may possibly need a Barrister. Estimates should be obtained. Importantly, you should note that if you do serve notice on your landlord then you will be liable for the reasonable conveyancing costs of your landlord in connection with any investigation the landlord is required to carry out, including obtaining a valuation on your flat and negotiating the grant of the new lease to you. There will also be usual payments to third parties, familiar with any conveyancing transaction including Stamp Duty, tax and Land Registry fees. As this is a specialist conveyancing area the conveyancing fees are unlikely to be cheap. We believe that if you choose your conveyancing lawyer well you will obtain good value for money. The ultimate conveyancing fee will depend on a number of factors including the complexity of the conveyancing transaction and how long it takes and importantly, whether or not it is necessary for the matter to go all the way to the Leasehold Valuation Tribunal.

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