How do you find out how many years ae left on a lease hold property

Yorkie1

One wonders how they EA managed to value the property, and now how the OP will manage to decide the correct offer to make (if at all), given the fact it's a lease of unknown length!

LisaLou1982

smiler123 wrote: »

Hi thats my fear of shelling out on a solicitor to be told that the lease has only a few years left,ive been in touch with estate agents today again as they are open on sundays an was told to speak to the manager tomorrow so i just hope we get it sorted before i get a solicitor x

Have you tried speaking to any of the neighbours in the other flats? Is it a big development, or a converted house, what sort of age is the property?

If it was built as part of a development then you could probably assume that the lease was the same length for all of them.

If its around 50's/60's build then it may be necessary to get an extension to the lease but then maybe not. Try asking the neighbours if any of them have had to extend their lease.

The lease term only normally becomes an issue where there is less than 60years to go as lenders dont like it.

I live in the midlands and never once had a problem with leasehold property although theres very little of it here in comparison with London where i suspect they are much more common. Whereabouts in the country are you?

G_M

I think it is perfectly sensible and legitimate to insist on being told this before you proceed to survey and legal costs.

Indeed, you really need to know when agreeing what to pay. A flat with 50 year lease is worth far less than one with 100 year lease.

Either ask the vendor directly (phone? knock on door? letter?) or insist the agent asks. Make clear you are waiting for an answer before proceeding.

Your solicitor will, of course, confirm the info later for legal reasons, but your original offer is dependant on this info.