Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Guardian - UK
The Guardian - UK
Business
Diane Taylor

‘I was told to pay £212,000’: property owners face huge bills when lease is due to expire

Terrace houses
Property owners who own the freehold will face no further charges once they have paid off the mortgage. Photograph: Gary Calton/The Observer

Icylyn Goddard, 86, has lived in her maisonette in Wembley, north London, for more than 40 years. She finished paying off the mortgage on it 20 years ago, but still does not own her own home and was recently told she would need to spend more than £200,000 to ensure she can spend the rest of her life there.

Goddard is a leaseholder and has 11 years left on her lease. In July, lawyers for the freeholder of her building told her that she needed to pay £212,000 plus valuers’ fees to extend it for 125 years. She was told that if an agreement was not completed within three months, the terms offered to her would be revised.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.