Yeah, it's been done in line with the statutory lease extension

So x premium,
90 years on top
peppercorn rent.

I think I am struggling to get my head around who will need what when.

I.e with a normal purchase of a property with a lease, is it simply the case of the same motions with regards to a freehold except an additional charge from solicitor to review the lease & acquire it.

So what I am trying to understand is whether I can still exchange & complete on this property whilst the lease is being finalised or will there be a delay as ill need the new lease to be enacted before I complete. My lender is still happy for me to proceed to buy the property on the current lease (87 years) so no hold up in terms of mortgage application but lets say it takes the seller and freeholder 4 months to complete the lease extension is that 4 months before I can exchange & complete or is my buying of the property independent to the lease extension situation?

I've also got buyers close to exchanging on the property i am selling and do not want to have to delay them for months on end you see.

Posted By: KetteringRyu on June 1st 2021 at 12:47:11

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