Lease Extension for Leasehold Properties

Discussion in 'UK Property' started by Habib123, May 16, 2018.

  1. Habib123

    Habib123 New Member

    Hello,

    lease extensions confuse me. I was under the impression once the lease drops under 80 years it becomes unmortgageable and the value of the property drops sharply. Yet I see properties on sale which don't reflect the lease length. case in point - my mother had a btl which we tried to sell in 2012 when there was 73 years on the lease. We were offered £90k. We declined. we then extended the lease and then four years later sold the property for 150k. Am I missing something here- ?

    Is there a standard formula you can use to work out how much it will cost to extend a lease on any leasehold property and how much added value in £££££ it will bring to the property ?

    thanks,
     
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