Lease Extension - Does this sound right ?

[armanimick]

I already have a 64 year lease left on my flat (due to expire 2076 )

I asked for the cost of an extension of 26 or 99 years

Bought the flat 20 years ago at £50k plan on selling it for £185k

Letter from housing society saying

" I have today received the valuation for the extension to your lease which will grant a total of 125 years or 198 years from 1st March 1951

The valuation figure for an additional 99 Years is £32,300 and for an additional 26 years is £29,700 "

Anyone know if this sounds correct, I estimated £15k but not double... ? Why would they start the lease from when the property was built and not from when my lease expires ?

Appreciate feedback

[buildersmate]

Best to speak to this organisation, which being Government-funded should provide you impartial advice. It will not provide you a valuation for your proposed lease extension and nor can I - you need to take your own professional advice over that matter.
http://www.lease-advice.org/
However just because a HA says that they have received a valuation doesn't mean it is correct - indeed since the valuer is working for the HA it is more likely to be on the high side.
There is always room for negotiation in these matters.
If you cannot agree, there is a process using a Tribunal to determine an outcome. Lease Advice can help you with how it works.
BM