BENEFITS OF A 999 YEAR LEASE
- Comprehensively resolve the “short lease” issue once and for all
- A brand new lease, but closely following the form of the existing leases having removed reference to the third party manager, Solitaire
- Defunct/irrelevant provisions excluded and a zero ground rent
- Compliant with the requirements of the UK Finance Lenders’ handbook
COSTS
Thirsk Winton LLP fees
Preparation, completion and registration of the 999 year lease | £500 plus VAT |
Preparation, completion and registration of a Deed of Substituted Security, in accordance with your mortgage lender’s requirements (only applicable where there is a mortgage on the property) | £250 plus VAT |
Disbursements
Obtaining up to date copy of title documents from Land Registry | ∼£9 |
Registration fee for new lease | £40 |
New Land Registry compliant lease plan (we will try to avoid this cost by re-using the existing plans) | ∼£200 |