Leaseholds are much better than they used to be, and fair.
It`s been mentioned in this thread that a leaseholder doesn`t have to renew it but I don`t thihnk this is the case anymore, by law they have to extend the lease and it has to be at a fair price. I think but don`t quote me, a leaseholder has to extend the lease at least once or twice, or it may even be a case that they have to continue renewing leases.
On flats they seem to vary bewtween 99 years and 999 and even the shorter ones tend to be renewed to 125 years once they hit around 60 years or less I think.
If the leaseholder cannot be found, the state will grant a new lease on behalf of the leaseholder.
A leaseholder these days cannot decide to not renew a lease if for example they have plans to knock the building down and build a bigger one.
It`s been mentioned in this thread that a leaseholder doesn`t have to renew it but I don`t thihnk this is the case anymore, by law they have to extend the lease and it has to be at a fair price. I think but don`t quote me, a leaseholder has to extend the lease at least once or twice, or it may even be a case that they have to continue renewing leases.
On flats they seem to vary bewtween 99 years and 999 and even the shorter ones tend to be renewed to 125 years once they hit around 60 years or less I think.
If the leaseholder cannot be found, the state will grant a new lease on behalf of the leaseholder.
A leaseholder these days cannot decide to not renew a lease if for example they have plans to knock the building down and build a bigger one.
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