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Mortgage
Comments
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if the house is worth £250k with a long lease and you're getting it with a short lease for perhaps £150k then it is a no brainer (in theory). If it would be worth £250k and you are getting it for £240k with a £20k fee to extend then run awayAn answer isn't spam just because you don't like it......0
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The seller is saying they dont want to pay for the lease extension (because it is too much) and saying can I go with another lender...
I hope you understand what they are saying here...- They don't want to extend the lease, because that would cost them a lot of money.
- So they want you to buy the property with the current lease, so that you have to pay a lot of money to extend it, instead of them.
That might be OK if the property is priced low to reflect the cost of extending the lease.
But you would also need a a chunk of cash in the bank to pay for the lease extension - unless you can work out a deal for lease extension on completion.0
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