Short Lease : buy?
Discussion
I'm looking to buy a flat that seems to have a short lease left (only 62 years). The owner of the freehold is very old and isn't interested in extending it seems.
If I buy the flat, I can 'force' her to extend the lease? It seems more trouble than it is worth and the current owner just wants to sell the flat without doing anything.
Any suggestions appreciated.
If I buy the flat, I can 'force' her to extend the lease? It seems more trouble than it is worth and the current owner just wants to sell the flat without doing anything.
Any suggestions appreciated.
Thank you for your help. The mortgage should be okay.
My question was more about whether I'm going to be stuck with problems in that the freeholder doesn't seem to want to extend, but she legally has to? I vaguely know her in that she lives close but she is old and has some bizarre idea that she can block and then everything will revert to her grandchildren.
(I also offered to buy the freehold for the entire building, but again not interested)
My question was more about whether I'm going to be stuck with problems in that the freeholder doesn't seem to want to extend, but she legally has to? I vaguely know her in that she lives close but she is old and has some bizarre idea that she can block and then everything will revert to her grandchildren.
(I also offered to buy the freehold for the entire building, but again not interested)
Thank you. I'm not being blasé about the mortgage, we are fortunate enough to just buy it.
Based on the information above and knowing much more about leases than I ever wished to, I reckon it'll cost £15k or so to get the lease extended.
I am trying to get this removed from the price of the flat.
Based on the information above and knowing much more about leases than I ever wished to, I reckon it'll cost £15k or so to get the lease extended.
I am trying to get this removed from the price of the flat.
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