Q: At present living in an apartment building with 118 years left on the lease. There has been some interest among the residents of the block to buy from buy. The owner has offered us the head lease apparently for 999 years, approximately ￡ 1000 per flat (tbc) .

Apparently this is a good deal. I see that this would likely value of any property with more than ￡ 1000 purely in terms of raising the remaining 118 years of 999.

Does to the head lease any other benefits than this? Ive hunted around the internet (Google, MSE, lease advice.org) to try to get a legal definition. Is there one?

I wondered the group of flats to consolidate efforts to obtain full ownership. Can anyone point me towards a good source?

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A:Hi everyone,
we have been quoted around ￡8,000 to increase the Leasehold on our rented flat from 58 yrs to 120 yrs (wife knows the correct figures). This seems a joke to me but a necessary one, as some lenders are refusing mortgages below 60 yrs.
Apparently, new legislation is out where we have to pay London prices??? This flat is in the midlands and valued at ￡95K, 2 bedder.
We had put the flat on the market, but have decided to keep it rented while we increase the leasehold.
Any thoughts please.

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A:The head lease is basically the lease from which all your leases were granted.

I can't see how buying this would benefit you as certain things like building works etc would still require freeholder consent.

I'd be pushing to buy the freehold then setting up your own management company of some sort

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