Leasehold property : London
Discussion
I've found an amazing buy in London - 4 bed appartment needs work doing - just what I like; so as to add value to it.. thing is, I'm still uneasy about Leasehold places.. I've stuck to Freehold as best I can so far.
This property in particualr has 84 years left on the lease... a question:
What is the least amount of years left on a lease that you'd be willing to buy at/ with a view to selling on within 2 years. I know 99 years up is standard and anything less than 40/50 becomes an issue and something to barter the sale price down over.
Anyone with any experiences with Leaseholds in London; any nuggets of advice!?
This property in particualr has 84 years left on the lease... a question:
What is the least amount of years left on a lease that you'd be willing to buy at/ with a view to selling on within 2 years. I know 99 years up is standard and anything less than 40/50 becomes an issue and something to barter the sale price down over.
Anyone with any experiences with Leaseholds in London; any nuggets of advice!?
Location in respect of leasehold property is largely irrelevant.
Looking to sell on within 2 years, no issues at all. If lenders are willing to advance monies for purchase of a leasehold property with 82 years remaining (which they are) then there is no reason for you to be concerned is there?
If you're comfortable that you've found a bargain and can add value, even in what may be a falling market, then good for you and good luck.
Looking to sell on within 2 years, no issues at all. If lenders are willing to advance monies for purchase of a leasehold property with 82 years remaining (which they are) then there is no reason for you to be concerned is there?
If you're comfortable that you've found a bargain and can add value, even in what may be a falling market, then good for you and good luck.
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