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Effect of grant of new residential lease on current valuation and sale?

Flat/maisonette, 2 beds in Leighton Buzzard has only 60 years remaining on lease. How will grant of new 999 years lease affect current valuation and saleability?

Asked on Nov 11 2014, House Prices in Leighton Buzzard | Report content

Answers (1)

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  • With only a 60 year lease it will be difficult for a buyer to get a mortgage. It may not make a great deal of difference to the value as 60 years is still a long time, so the extra value is mainly in saving the costs of the extension and a peace-of-mind factor regarding a future resale. The main benefit is the increased number of potential buyers and ease of selling.

    Answered on Nov 12 2014, Report content

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