Owning your own home

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JohnJonJonny in reply to @NickCJ

The lease is really low, but i've been given a quote (from the freeholder) regarding the cost of renewing it. Even factoring in this extra cost it is still reasonable (for London).

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NickCJ in reply to @JohnJonJonny

Interesting. Clearly if the lease is below 80 years currently you'll find it hard to get a mortgage unless the extension is simultaneous with the transaction. The freeholder's quote may not include your legal costs to extend (were several £k when we did it)

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JohnJonJonny in reply to @NickCJ

Thanks, i'll look into it more. We're really in the preliminary stages with a high chance of failure. However it's been a while since i've been excited about a property!

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