only 20 years left on freehold/ground rent

ranchhand

Hi,

Dealing with my Mothers estate and have just discovered that there are only 20 years left on the ground rent to her property.

The house has to be sold to pay off a small mortgage ,house is worth around £80,000. Freeholder requires me to send probate papers to them before any discussions can take place.

She has been paying a peppercorn ground rent of £4.50 a year.

Any suggestions as to what`s best to do here?

Thanks.

Keep_pedalling

Selling without extending the lease will be difficult at best, and impossible at worse. The shorter the lease the more expensive it is to extend it, and the general advice if you ever want to sell a leasehold property is never let it drop below 60 years. I suspect the with just 20 years to run the house is worth very little to the leaseholder, but the best place to ask is on the Buying, selling and renting property board rather than here.

ranchhand

Thank you,

Is it possible for the Mods to move the thread rather than create a duplicate?