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Selling ex council flat, is lease considered?

I am trying to sell my ex council flat and I have roughly 115 years left on the lease. My flat is located on stamford hill N16, 3 bedroom 2nd floor. I wanted to know if the selling price depends on the lease? thanks

Asked on Sep 13 2011, House Prices in London | Report content

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  • With a lease length of 115 years then you have nothing to worry about. Most buyers want 100+ years. It's not until they drop below the dreaded 80 year level that extensions start to become expensive and lenders begin to have real issues with lending.

    Answered on Sep 13 2011, Report content
  • Any lease over 70 years is considered good, so yours at 115 is absolutely fine, this should not affect the price.

    Answered on Sep 14 2011, Report content
  • When a lease drops below 80 years the premium to extend the lease increases because marriage value becomes payable. Marriage value is the increase in the value of the flat arising from the grant of the new lease, hence 80 years being important.

    Answered on Sep 15 2011, Report content

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