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Lease
us,thecat&thedebt
Posts: 859 Forumite
hi,
have viewed a property today with a 72 year lease and just wanted thoughts of if you think this should be a problem..
there are three others for sale in the area all with the same lease and same price so assuming price is right?
TIA
have viewed a property today with a 72 year lease and just wanted thoughts of if you think this should be a problem..
there are three others for sale in the area all with the same lease and same price so assuming price is right?
TIA
:beer: :j OFFICIAL DFW NERD NO 159 PROUD TO BE DEALING WITH OUR DEBTS:beer: :j
If you do a job well, people won't be sure you've done anything at all :rolleyes:
Must claim back bank charges!!!:rolleyes:
If you do a job well, people won't be sure you've done anything at all :rolleyes:
Must claim back bank charges!!!:rolleyes:
0
Comments
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your issue is that many lenders wont consider having a less that 80 year lease. Im not 100% its only from what Ive read on here
Youll need to consider extending the lease- who pays for this and how long it takes is a "piece of string" issue.
I expect the price will reflect the fact that the property has a shorter lease- ie those with longer leases are likely to be more expensive.:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
Hi us...
We've just bought a property with a 76 year lease, and it's been no problem at all with the mortgage lender. We were told that anything under a 60 year lease is likely to be a problem, so it depends how long you plan to stick around!
There is also the option of paying to extend the lease, but i haven't found out much about that yet. It can cost several thousands, though.
GillsDebt free date: October 2006 :money:0 -
Our flat has a 78yr lease and we sorted out the share of freehold. We were worried that it may cause problems selling. All the proper advice we took was that it was worth it. You can buy but ask about how much it would cost to extend/buy the freehold because at some stage you will have to.
We are in the south, where are you?0 -
thank you all for your replies
we will stay at least 2 years max 5 years
i hope its ok cos im in love with the property:beer: :j OFFICIAL DFW NERD NO 159 PROUD TO BE DEALING WITH OUR DEBTS:beer: :j
If you do a job well, people won't be sure you've done anything at all :rolleyes:
Must claim back bank charges!!!:rolleyes:0
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