Diminishing Asset

nickernacker

When I came to sell the flat I bought with my now ex-husband over four years ago I found that it only has 75 years left on the lease and was told that it would now be considered a diminishing asset.

Neither myself nor my husband were made aware that the length of the lease was an issue when we bought the flat or that it would become and issue should we wish to sell it.

Is there anything we can do other than put ourselves at the behest of the leaseholder who wants somewhere in the region of £30k to extend the lease. we are already in negative equity and simply dont have the money to be able to extend the lease at the present time.