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shared ownership and extending the lease question
raf80
Posts: 24 Forumite
Hi,
I'm about to buy a 50% stake in a shared ownership flat. It has 93 years left to run on the lease.
My questions are;
Would you consider that a decent amount of time to buy a flat at?(I might sell in 5/6 years time)
Is it possible to extend leases on shared ownership properties?
Thanks a lot
Raf
I'm about to buy a 50% stake in a shared ownership flat. It has 93 years left to run on the lease.
My questions are;
Would you consider that a decent amount of time to buy a flat at?(I might sell in 5/6 years time)
Is it possible to extend leases on shared ownership properties?
Thanks a lot
Raf
0
Comments
-
Hi.
Not sure on the joint ownership issue....
We are in the process of buying a proprty in London with a lease. We looked at loads but were quite nervous about properties that were approaching 80 years unless there was some guarantee that the freeholder would extend as part of the purchase.
It can have a major impact on future value so I would get a definite answer before you proceed further.0 -
Can the freeholder refuse an extension then?0
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