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Length of Lease on sale of bungalow and the Future.

Touchstone_2 · 2017-01-01 12:53:48

My wife and I can perhaps be best described as being on the wrong side of 79. We are looking for advice about the advantage/disadvantage of owning a bungalow that is leasehold with approximately 89 years of the lease remaining. When we bought the property our solicitor advised us against buying the freehold. Can't remember…

Comments

Mossfarr Posts: 530 Forumite

4 January 2017 at 12:28PM

Just give the council (your leaseholder) a ring and ask if you can buy the freehold and how much it will cost (including their legal costs which you will be required to pay). You will not be under any obligation to continue with the purchase if it is beyond your reach. Most councils at the moment are extremely cash-strapped so happy to sell freeholds.
I recently purchased the freehold on my ex council house, it cost £1548 in total including all the legal fees.
Having said that, in your position I wouldn't bother, let your beneficiaries sort it out themselves.

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