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Leasehold Advice

AWWWWW97
AWWWWW97 Posts: 14 Forumite
10 Posts First Anniversary Name Dropper
edited 14 August at 2:06PM in House buying, renting & selling

Hello,

I currently own a Leasehold flat which I have had for a couple years, I have seen a few things online that I wasn't really aware of, my lease now has 90 years left on it. I am worried that it might become harder sell. I'm 28 and its a 1 bed so this was my first property and would love to progress to a bigger property.

My ground rent is 250 per year and wont increase until 2041. My service charge increased by £53.46 PA in 2024 and stayed the same so far this year but I believe service charge increases are out of my control.

At the moment my property hasn't really increase in value, if I sold before 2029 I would have to pay mortgage repayment fees but if I sell after this date my lease would have 86 years left.

I have the option of moving back in with family to save for a freehold but I think this would take me years and then the value of property's would go up even more. anyone have any advice or know if any changes might come into affect re leaseholds.

Thanks

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