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Bought a first property (leasehold flat in block of 4) in 2002 on 100% Mortgage 7 years remaining. Property has been subjected to number of subsidence claims unbeknown to me Lease started in 1974 (my paperwork stated 99 years from 2002). Due to low lease 49 years unable to remortgage. To renew lease been quoted £24,880 plus legal fees. Outstanding mortgage is at £150k. Reluctant to invest more into a distressed property and have been trying for quick sale but no offers and likely negative equity. My question is should not be able to sell within 7 years would my existing home be at risk even though with different lender? I'm currently up to date with all payments but Halifax (rental property) refusing to to assist with rate (on SVR 8.74%) as not buy to let mortgage and on interest only. Any constructive advice greatly appreciated. Been a stressful property for all of my adult life.
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