Leasehold Flat - 100 years Remaining. Problem?

[NicoG]

Hello.

Found a flat for possible mortgaged purchase.

No official enquiries made as yet, but looks to be Purpose Built block.

Web details state "The property is held on the remnant of a 125-years from 1991"

So my maths makes that 100 years for arguments sake.

Also, looking at the buiding, it totally looks like it was built in 1991, so this will be the orignal lease I am assuming.

When do Mortgage companies start getting twitchy poopers about remnant Lease periods?
Last place was bought with 114 from memory and was fine, but what about 100...?

Should add that it's a share of the Freehold jobby, so what would it involve / cost to extend the lease if it ever bcame necessary £10K or £12 K ?

Shirley the others in the block are all in the exact same situation and, they seems to have been bought and sold fairly frequently over the last 5 years or so.

There's 20 flats in 5 acres of grounds in case that makes any difference for reasons I don't understand?

Thanks very much in advance.

Nico...

[NicoG]

Awesome - thanks so much for your responses all of you.

Just to address on or two things - I understood that "Share of the Free hold" (see text pasted below from Rightmove)
would mean that the service charges pay for the running of a management company who own the grounds and buildings Freehold?

From RM - "GROUND RENT: Each flat owns a share of the freehold. "

I did have it in my head that this should make things simpler if a renewal was required...

Also, I will be porting my current mortgage which has less than 18 years to run, so I guess that means it'll be comfortably above even 80 years remaining when it's paid-off...

lastly for now though - what is it that "sets the cost" of a lease extension / renewal? If it's just a ar$ehole freeholder then I can see that that might precipitate a high quote, but if EVERYONE in all 20 flats own a share, what is it that dictates the cost of this process?

Nico.