Length of Lease

[Anon Private]

Hello,

I have just seen a flat advertised which has a 125y Lease (from29/9/2006).

This does not look like a long lease to me.

Would you expect a problem if the purchaser decided to sell at a later date?

Thanks

 

[Anon Private]

Thank you for responding.

I was thinking that buying the flat with 114y left on the lease, and selling it in, say, twenty years time would leave 94y on the lease. A future buyer might take the view that if they kept the flat for a substantial period then selling might be a problem.

Best wishes.

 

[diyhelp]

What are your rights when the lease does run out? Do you have a right to renew and are you protected from large rises in the cost?

 

[Longterminvestor]

I read somewhere that 83 years is the "acceptable" cut off point for a lease? Anything below that and there might be issues with a mortgage?

 

[Longterminvestor]

Thanks for confirming that John. I have always been intrigued by freehold and leasehold. I appreciate it might be more straight forward with for example a block of flats but where is the benefit of buying a stand alone property on a leasehold basis?