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Will extending my 79 year lease improve market value?

Or does it just improve the saleability of my property?

Asked on Apr 23 2012, House Prices in Ashford | Report content

Answers (6)

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  • If you have 79 years left on your lease I wouldn't bother extending it but yes it will improve saleability definitely though I'm not sure it would raise the price if it still had 79 years left.

    Answered on Apr 24 2012, Report content
  • I beg to differ. Many buyers with lenders probably won't touch such a short lease. Extending by 90 years may cost £10-15k and now you are under 80 years the amount the landlord can claim from you would go up.

    Answered on Apr 24 2012, Report content
  • Absolutely Dr P. I'm trying to sell an apartment right now that has 91 years left on the lease and even that is proving to be an 'issue' for the lenders. It's ridiculous of course but that's the way it is these days.

    Answered on May 3 2012, Report content
  • CK - depressing response from the lenders - especially when owners have the legisltion (to increase the term) to protect them = but then sadly as solicitors we find increasingly that lenders become more and more obstructive to actually getting property sales moving

    Answered on May 3 2012, Report content
  • If you are still looking to sell have a look at the Leasehold Advisory Service website. There is a lot of info in there both for sellers and buyers

    Answered on May 23 2012, Report content
  • You are below 80 years on your lease so "marriage value" applies and will raise the cost of lease extension. You will restrict the market for your property if you don't extend so as a general rule do it as soon as possible!

    Web reference:

    Answered on Aug 5 2014, Report content

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