lease hold

avit

Hi I am buying a shared ownership 3 bed house which is leasehold. Having read all the posts on here about the problems with lease holds and the cost of extending them, im getting worried/nervous about it all. The lease is 99 years, its new build and with a housing association. I did ask the mortgage advisor if this would be a problem if in 30 years time we were still there and wanted to sell with 69 years left. She said it should be fine and if not you could extend it easy enough. I did ring the h a and they said It can be extended but didn't know what the costs would be. If i did staircase up to 100% the freehold would be passed to me. Am I being stupid and worrying about nothing.

Thanks guys

lynzpower

avit
yes you are worrying over nothing

I spoke with the HA on this point exactly ( although my lease is 125 yeas with 123 left) they said they buy it off the freeholder and I buy it off them.

the freeholder is the building co- who have the freehold title.

avit

Thanks lynzpower, Im such a worrier. lol

lynzpower

easy to do where SO is concerned, especially as most freinds & family and others who would reassure generally have no experience of SO.

For confidence & peace of mind , you may be as well to ask your Sol to add this as an additional enquiry to the HA, so that then they can answer it in writing to you.