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.
-
Leasehold: 85 is the new 70
Historical short-lease article This article records mortgage-lender attitudes to minimum lease terms in 2015. It should not be relied upon as a statement of current lender requirements. For current practical discussion of the decision facing an owner with a shortening lease, read Short Lease: Extend Now or Wait for Reform? Historic mortgage-lender requirements can be…
-
Minimum Unexpired Lease Terms : From the Fire to the Furnace
Conveyancing solicitors must note that mortgage lenders are tightening criteria for short leases, with Furness Building Society now requiring a minimum unexpired lease of 85 years. This change affects many properties previously considered mortgageable and creates opportunities for solicitors to assist with lease extensions as buyers adapt to revised lending standards.