How much should I be paying for a lease renewal quote?

Question

My freeholder has said it will cost £500 VAT in order to get just the quote on the lease renewal price of our flat. Does this seem right? Do I have to go through my freeholder to do this?

Answer 1

Unfortunately the freeholder can charge what they like and you will have to go through their solicitors. I renewed the lease on my business and it cost me one thousand pounds plus vat for the same document with a different date on the top.

Landlords are very very greedy.

Answer 2

Have no idea. If you're British, try to phone your local Revenue & Customs office - they could help you for free.

I'm not in the UK but the US - and we have enough of the scheming direct mail, ARM brokers, finance neer do wells all full of such shenanigans trying to part people from their money through intimidation tactics and gimmickry. Our finacial institutions are overburdened and our Washington cronies and over-compensated CEO's are part of the problem.

But our IRS (Internal Revenue Service), like your RC can be very helpful with questions and directions.

Just remember to check the tone of your voice and keep your emotions well-bridled. Although trained professionals, government personnel are just like everyone else - they have their limits and it as they say, "It is better to catch ... with honey, than ...."

Meaning, the nicer you are, the nicer those you are seeking help from will be when helping you.

Answer 3

I extended the lease on my flat last year, it had  64 years left and I extended by 99, the 500 seams about right, the best way to go about is to get everybody else envolved and share the admin costs, my flat was worth 135,000 and the lease extension cost 9,000

Check out the attached link, priceless info here, also something to note, always good to get an independant survay done we did and the Freeholders survay was very different from out independant one and after a long drawn battle a figure was settled at which was 4 grand less then the freeholders initial figure.  Always good to have some ammo in your pockets !!!

http://www.leaseholdadvicecentre.co.uk/

Answer 4

DOn't pay.  UNless you really really want this flat. /