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How much of a pain is a leasehold property? All ready to offer on a house
Nobody wants a leasehold house if they can avoid it.
That lease - it’s short - will cost you money.
There might be all sorts of bullshit conditions and restrictions associated with it that you’ll only find out when you are balls deep.
Freehold houses can have conditions and whatnot but leasehold is a worse position to start from.
That said if you can get to the bottom of it and force the current owner in to starting the process of a lease extension before you buy it might not be a terrible decion to pursue it, depending on what else is available at your budget.
Howard-
Ta! Doesn't sound ideal.
I've got the land registry docs but don't entirely understand what I'm looking at. From what I can tell though the land is owned by the Church of England Pensions Board, then someone paid 130K in 2008, which if I'm reading right was the 99 year extension.
Sounds less and less ideal.
Brookly_Bay
How much of a pain is a leasehold property? All ready to offer on a house we were blown away by only to spy its leasehold at the last minute! Looks like 86 years left on it as it was a 99 year lease in 2008.