Problem Property
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Our Flat Has 91 Years Left on the Lease. Why Did the Buyer Pull Out?
A buyer withdrew an above-asking price offer for a flat due to concerns about its remaining lease of approximately 91 years. The seller, perplexed by this decision after receiving reassurances from their estate agent, now faces options including price reduction or lease extension. The situation highlights complexities in leasehold properties affecting buyer confidence and mortgage…
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Buying a Flat With an 80–90 Year Lease: What Happens When Your Mortgage Deal Ends?
A prospective flat buyer is considering a property with an 80-90 year lease and is concerned about mortgage implications if the lease extension isn’t completed before their mortgage deal ends. They must explore various factors, including lender requirements, valuation impacts, and extension funding options, to make informed purchasing decisions.