If you have owned the property for 2 years and wish to buy a new lease, how many years will the extension add?

If you have owned the property for 2 years and wish to buy a new lease, how many years will the extension add?

• A. 70 years
• B. 90 years
• C. 99 years
• D. 50 years

Answer: (B)

When you extend a lease in the UK, you can use the statutory route after you’ve owned the property for at least two years. The extension adds 90 years to the lease term. So the new lease length becomes the current unexpired term plus 90 years (for example, if you have 60 years left, you’d end up with 150 years). The other available numbers don’t reflect the standard extension length.

When you extend a lease in the UK, you can use the statutory route after you’ve owned the property for at least two years. The extension adds 90 years to the lease term. So the new lease length becomes the current unexpired term plus 90 years (for example, if you have 60 years left, you’d end up with 150 years). The other available numbers don’t reflect the standard extension length.