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Does anyone know how much it will cost me to extend the lease on my house? There's 74 years left. We've tried an online calculator, but it's confusing! Do we split the marriage value with the freeholder, or pay the full wack?
Hi. It’s a horribly confusing and potentially expensive process depending on who you’re haggling with. The calculator is just one part but the actual price is often handled via a negotiation between the legal parties after both sides have had surveyors undertake their valuations. Hence some back and forth but the tab is picked up by you. The good news if you can wait is that the process is due to be simplified and more affordable for the lease extender:
When I'm ruling the world this whole bollox around leases being more expensive to extend the closer they are to the end will be banned, and the people who make money from it shoved in stocks to have rotten turnips lobbed at them.
There is no legitimate reason why it should get more expensive. IMHO the lease should be everlasting like a freehold.