I am the leaseholder of a Ben Jonson flat and I've been receiving letters from Leasehold Solutions offering to help me to extend my lease (as far as I can work out).
Is this something I should get involved with or ignore? Are a number of leaseholders in the block doing this and does it make sense to join them?
There is discussion on the topic of lease extensions from time to time on Barbican Talk, so have a look at the most recent of those. For example, this thread.
My understanding is that it is a good idea to keep your lease above 80 years outstanding because valuations can go down significantly with less than 80 years of the lease to go, and also the cost of extending the lease goes up as the number of years remaining go down.
My understanding is that it is a good idea to keep your lease above 80 years outstanding because valuations can go down significantly with less than 80 years of the lease to go, and also the cost of extending the lease goes up as the number of years remaining go down.
As you will see from the Barbican Talk discussions, many people have worked through the process by themselves without help from a lawyer or a specialist firm. You may need specialist help if you have a mortgage because sometimes the lender insists on a lawyer being used.
As for Leasehold Solutions, I'd never heard of them before. I suspect they are a specialist firm fishing for business. Perhaps they could help if their fees are reasonable and you have little spare time. I suggest reading the Barbican Talk threads and shopping around.
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