Lease length 30 November 2012 at 3:24PM in House buying, renting & selling 1 reply 447 views

lul_2

Hi there,

We've seen a flat we really like, however, there are only 76 years remaining on the lease. We only plan on staying in the flat for around 4 years. Will this cause any problems? And is it hard to get it extended?

Thanks in advance.

katejo

Does the asking price reflect the fact that you would have under 80 years on your lease? 80 years is an important cut off point after which it is more expensive to extend the lease. If you stay 4 years and don't extend it yourselves, it may well be hard to sell. I wouldn't buy a leasehold property with under 85 years on it. You should be able to find more details from the Leasehold Advisory agency.