84 year lease?

Question

I am in the process of a buying a flat and have found out the lease is shorter than originallty thought. It is 84 years is this ling enough?

Answer 1

It might be long enough for you, but if you've got kids you may want to pass it on to, then it may not be long enough for them - & getting a lease extended is one heck of a hassle.

Answer 2

I would suggest that you get your solicitors to enquire of the freeholder's solicitors whether they would be willing to extend the term of the lease.  Generally when a lease falls below 80 years It can be very expensive to extend the lease and when you come to sell the property people won't find this very attractive.

If you can get the seller to extend the lease before your exchange contracts.  Once you've bought the property you can only extend the lease after living there for 2 years.

Hope this helps

Answer 3

yep! go for it!

Answer 4

yup - if it were lower than 70 that is the time to worry.