Right I'm buying my first home and the remaining leasehold is 75 years.
Is this something to be cautious of? I have asked my solicitor to ask the Freeholder if this could be extended.
After looking on the net this morning, I believe that once I have occupied the Flat for 2 years, I have a right to extend the lease up to another 90 years?
Your understanding sounds right to me. For info we are in the process of extending our lease by 90 years (currenly 67 left) and it is going to cost approx. £5k plus fees.
However, this seems to vary massively across the country, we are in Birmingham, but unsurprisingly London seems vastly more.
The leasehold advice service are great- can't remember their website but google it.
