Lease Extension Costs and Problems When Selling
An unexpected lease extension cost, an unclear offer from the freeholder or an extension that was never completed can complicate a flat sale or remortgage.
These articles examine extension quotations, proposed terms, timing and registration problems. If the issue relates to arrangements or advice from your original purchase, the lease, Report on Title and correspondence may help establish what was explained.
The extension has become a problem. What were you told when you bought?
If an extension cost or unresolved lease arrangement is affecting your sale or remortgage, visit When I Bought’s short-lease guide. Explore the records that may matter and tell us what has happened.
You do not need to decide whether anyone was at fault before starting a conversation.
Lease extension problem? Start with When I Bought →
When I Bought is a Lexsure service. It is not a law firm and does not provide legal advice.
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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.
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Nationwide Lease Extension Update: Referrals and the Two-Week Rule
Nationwide Building Society’s updated guidelines for lease extensions emphasize compliance with the Leasehold Reform, Housing and Urban Development Act 1993. Conveyancers must submit detailed lender enquiries two weeks before exchange, ensuring adherence to lender criteria. Proposed extensions not meeting requirements must be referred, clarifying risks and justifications. LENDERmonitor notifications are crucial for tracking changes.