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Good leasehold house in Lincoln
nagapow
Posts: 1 Newbie
This is my first post on this forum and I hope someone who has sold/bought a "Good Leasehold" house could share his/her experience with me.
I recently found out the house I am buying has a "Good Leasehold" title although it was advertised to be sold as a freehold. The lease term is 1000 years from 1584, which means there are 570 years left on the lease. The property is protected by indemnity insurance should someone come along and invalidate the lease.
My concerns are:
* Is the 'Good Leasehold' title likely to be an issue in the future when I sell the house?
* Are property buyer generally put off by 'Good Leasehold' titles?
* Are mortgage lenders generally less likely to lend to buyers if the property is a 'Good Leasehold'?
I have been told that Leasehold houses are quite common in Lincoln and this might not be an issue with mortgage lenders. However, I don't know anyone who can verify this other than contacting an a mortgage lender.
Thanks everyone for your input
I recently found out the house I am buying has a "Good Leasehold" title although it was advertised to be sold as a freehold. The lease term is 1000 years from 1584, which means there are 570 years left on the lease. The property is protected by indemnity insurance should someone come along and invalidate the lease.
My concerns are:
* Is the 'Good Leasehold' title likely to be an issue in the future when I sell the house?
* Are property buyer generally put off by 'Good Leasehold' titles?
* Are mortgage lenders generally less likely to lend to buyers if the property is a 'Good Leasehold'?
I have been told that Leasehold houses are quite common in Lincoln and this might not be an issue with mortgage lenders. However, I don't know anyone who can verify this other than contacting an a mortgage lender.
Thanks everyone for your input
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