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Unable to sell Leasehold Flat- what are my options

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Comments

  • Hoenir
    Hoenir Posts: 7,742 Forumite
    1,000 Posts First Anniversary Name Dropper
    SVR could be painfully higher. CTL really meant to be for temporary lets due to circumstances. Not long term arrangements. 
  • lr1277
    lr1277 Posts: 2,150 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 11 August 2024 at 5:30PM
    Just in case you had not considered it, your potential profits are very low on the figures indicated. There will be estate agent fees, solicitor fees and when I sold my leasehold flat I had to pay my landlord’s solicitor fees. These fees normally come from money from the sale. You may have to dip into your own pocket to pay these fees.
    My estate agent fees were very high because I had two agencies selling the property. For this model there is a higher fee associated with the sale, as opposed to a single agency sale.

    in your place I would get a mortgage which allows unlimited overpayments. Then chuck as much money towards the mortgage as I could. This would reduce the amount owed and be helpful when you do come to sell.
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