Property News · January 6, 2019

Leasehold dilemma: extend a lease now or wait for a better deal?


As a government consultation continues, it’s a crucial and costly issue facing the owners of flats and housesAmong the myriad of decisions homebuyers and owners have to contend with is leasehold. The number of years left on a lease is crucial when it comes to remortgaging or selling your home, and any potential buyer will struggle to be accepted for a mortgage once the unexpired lease term falls below 70 years. As the government consultation on leasehold homes continues, the issue of extending a lease has become one of the central topics.The “enfranchisement” process covers both extending a lease and buying the freehold to your home – individually if it’s a house, or collectively in a block of flats. The Law Commission has already put forward proposals to provide a better deal. It wants to see the process become cheaper and easier. Continue reading…

Source : theguardian.com
Read more…Leasehold dilemma: extend a lease now or wait for a better deal?

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