Leasehold.. when did 70+ years left become a problem with getting mortgage?

Fire_Fox

If your lease has now been extended what is the point of this thread? For tea and sympathy or to find out if you can take legal action against the estate agent?

pastmybest

Fire_Fox wrote: »

If your lease has now been extended what is the point of this thread? For tea and sympathy or to find out if you can take legal action against the estate agent?

Action against the inefficiency of the EA.

I do not need tea and sympathy thank you.

Can you herlp or are you just enjoying being grumpy?

I used to think you were a valuable poster.

Fire_Fox

I've given you my assessment of the situation and you got offended! If it makes you feel any better one of the reasons that I have been in a three year dispute with our (now ex) incompetent and fraudulent management company was MY failure to research the rights, responsibilities and implications of buying a leasehold property at the outset.

nollag2006

I think you'd struggle to hold the EA responsible in the eyes of a judge for your own naivety

pastmybest

Fire_Fox wrote: »

I've given you my assessment of the situation and you got offended! If it makes you feel any better one of the reasons that I have been in a three year dispute with our (now ex) incompetent and fraudulent management company was MY failure to research the rights, responsibilities and implications of buying a leasehold property at the outset.

Hindsight is a wonderful thing that applied to you and has now applied to me and will keep applying to many others as this forum is ready day by day. I bought this place as easy to look after, can be locked up when I take many breaks/holidays. However I will never never never buy another place like this as it has been an absolute PITA realising that you are so reliant on others before being able to make a decision on anything affecting the place.

We are going through yet another sale but regardless of this are in the process of buying somewhere else --- no no no not leasehold and not a flat this time. Sooner I am out the better.

pastmybest

nollag2006 wrote: »

I think you'd struggle to hold the EA responsible in the eyes of a judge for your own naivety

Another grumpy poster:p

So judging by the many other posts, on a variety of topics, there are a lot of very very naive posters on MSE.

I came on tonight to ask a perfectly simple question and finding myself getting very defensive and now wondering why I should.

nollag2006

pastmybest wrote: »

I came on tonight to ask a perfectly simple question and finding myself getting very defensive and now wondering why I should.

Because you attacked respondents when you didn't like thier views.

I think, even if you got advice at the time, that you would likely have ignored it as you have done with the advice you have received today.

pastmybest

nollag2006 wrote: »

Because you attacked respondents when you didn't like thier views.

I think, even if you got advice at the time, that you would likely have ignored it as you have done with the advice you have received today.

Why don't you answer my question as opposed to jumping in both feet first with your negative views. You obviously don't know the answer so don't waste my time. Pick on another poster on another thread and see if you can wind them up?

keith969

nollag2006 wrote: »

Mortgage providers have long been reluctant to give mortgages on properties with short leases

Errm A 70+ year lease is not a short lease, and should not have any impact on a mortgage. My first flat had a 71 year lease, wasn't a problem buying it and getting a mortgage, wasn't a problem selling it a couple of years later.

Hopejack

Keith - I think you were lucky to be fair. When did you buy and sell? I would say in the current financial market that almost all high street lenders will want a lease extended - reason being if they end up repossessing they are not going to want to fork out for a lease extension!

OP - I don't think you have any comeback against your EA to be fair. Did they even ask you how long was left on the lease at the time of taking your flat on their books?