My house is leasehold with a 1000 year lease. Will this affect the resale or the value of the property?
Asked on Sep 28 2011,
Selling in Southampton |
With a 1000 year lease, it is unlikely this will affect the re-sale value of your property. You needn't worry about the length of lease until around 80 years unexpired.
Answered on Sep 29 2011,
Not at all. Lease length only becomes an issue when it drops below 80 years. Even then it only becomes a real issue when it gets to 60 years.
Answered on Jul 24 2013,
At 1000 years there is no real difference between the value of leasehold and freehold houses. However, from about 90 years or less there will be a difference. The shorter the lease the more it will cost to extend the lease or buy the freehold. By the time a lease gets to 82 years it can cause serious complications on sale and below 80 years the costs rise significantly. Don't be misled into thinking that if you can get a mortgage the lease is long enough! Get professional advice quickly if you have less than 85 years on your lease.
Answered on Oct 15 2014,
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