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Regarding extending lease.

I amconsidering buying a GFF share of freehold with only 45yrs remaining its advertised cash buyers only, what is the expected amount to pay to extend, i heard on tele on property ladder a women paid £1000, others i have heard is thousands more, why is this so ?

Asked on Apr 8 2014, General in Christchurch | Report content

Answers (1)

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  • If it is 'share of freehold' then it is possible that the lease extension may be relatively cheap. However, mortgage lenders will be unhappy with a lease of less than 70 years, hence the demand for 'cash buyers only'. You will need to know the details of 'share of freehold', how is the property managed, who has the other 'shares', is there a policy re lease extension, etc?

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    Answered on Apr 8 2014, Report content

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