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Leases and length: What to consider?

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  • Leases and length: What to consider?

    I'm looking to buy a flat. I've heard its best to buy a property with a 125 year lease. However, if I hang onto the property for say 20 years, it will have less time left on the lease.

    Do I need to consider how much a lease extension will be before buying a property?? Should this be a primary concern?

  • #2
    Re: Leases and length: What to consider?

    If you buy a 125 year lease and keep it for 20 yaers as this'll stand at the moment a 105 year lease would be very acceptably to most buyers.

    A lease with lease than 82 years when you sell it will be less attractive as depending on how savvy they are buyers will be thinking about the cost of a lease extension. This will apply to an extent to leases in the mid 80s of yaers as well.
    RICHARD WEBSTERwww.rwco.co.uk
    As a conveyancing solicitor I want to be helpful (England/Wales only) but can't accept liability for this.