Posted by Stuart Miles | Solicitor
On 27th January 2021
If you own your property pursuant to the leasehold regime, then your lease is commonly regarded as a depreciating asset.
The amount of time left on the lease is a factor which dictates the amount a leaseholder must pay by way of a premium to the landlord to extend it. The premium can be expensive, especially when factoring in legal fees and costs of an expert to determine a suitable sum, in the event of a dispute. It is also hard to predict what amount an expert will determine as a suitable sum for the premium.