BENEFITS OF A 999 YEAR LEASE
- Comprehensively resolve the “short lease” issue once and for all
- A brand new lease, based on the most recent form utilised by the Church Commissioners when granting lease extensions
- But with defunct/irrelevant provisions excluded and a zero ground rent
- Includes a “mutual enforceability covenant” – absent from some of the leases in this block
- 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 |
Land Registry Disbursements
Obtaining up to date copy of title documents from Land Registry | ∼£6 |
Registration fee for new lease | £40 |