flats and leasehold

keyboard

Hi

i was thinking about buying a flat in london for investment.....however do not wish to get in to the disscussion about it being a the right time to buy etc.

My question is around how much lease should i expect a flat to have before considering it.......... 100 years.... 75 years ?


I know that buying a flat is like letting it off the freeholder.........I'm curious to how much the term of the lease affects the value of the flat ?

All thoughts welcome...

Doozergirl

Any more than 80 + the number of years you'd wish to stay would be ideal.

Any less than 80 and you should consider the cost of extending the lease when offering. Ask the vendor to obtain a quote from the freeholder and remember that you need to add legal fees for both you and the freeholder to that amount. It is also subject to change

Less than 70 and you need to ask the vendor to extend the lease really.

keyboard

thanks for the response doozergirl............ will bear this in mind.

Cheers