If you want to extend your lease under the 1993 Act then the landlord’s reasonable legal and valuation costs will be payable by you (as well as your own). You will not need to pay their costs in relation to any tribunal work, or in relation to any negotiation work carried out by the landlord’s surveyor or solicitor.
Often if you are agreeing a deal with the freeholder they will ask that their legal and valuation costs are paid on the basis that these would be paid under the statute.
Section 60 of the 1993 Act provides that the freeholder is able to recover the reasonable costs of checking the notice, serving counter notice and dealing with the conveyancing on the grant of the lease. The landlord’s reasonable costs of having a valuation report prepared to respond to the notice are also covered.
If you would like an approximate idea of the cost of extending your lease then there are some excellent calculators out there on the internet – such as this one:
http://www.bishopandsewell.co.uk/lease-extension-calculator/
These will only give an approximate idea, but if you are working out whether you can afford to extend your lease or not, or what the cost will be if you are buying then they can be very useful.
- More information about extending your lease.