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For 1 double and one single bed flat of 28yrs lease how much should I pay in Northend Road?

Two bedroom flat, (one double and one single bed) on Northend Road having 28 years lease left. How much should I buy it for?

Asked on May 8 2011, House Prices in Wembley | Report content

Answers (1)

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  • Difficult to say but the price you pay should be a lot less than the normal price as the lease is so short. I would get a solicitor to find out how much it would cost to extend the lease for another 99 years, there is a complex formula they use to calculate this. Deduct that amount from the standard asking price for the area, then take some more off as well (maybe another 30-40% for your trouble). It is unlikely you would get a mortgage on this property so would have to pay cash.

    Answered on May 13 2011, Report content

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